Ann: Pilbara Raises $12m in Placement, page-148

CYMON. Yes that's true but we know PLS was a very different company around May/June.
All I have been saying is that there should, and would normally, have been a rights issue around then, probably for about 5 million with attaching options to be exercised at around 10 cents. I think we know it would have been taken up and probably over subscribed.
Instead they sold very cheap to a few suits and went the easy way. Maybe lack of forward planning or maybe laziness in looking for an easy option. That was a mistake and was not looking after existing shareholders. Mistakes happen and that one cost both you and me.

It is however, the only mistake they have made in my book. I don't regard TT delays as a mistake. To me a mistake is when I don't see existing SH getting the best value, not lack of experience, because all business is a earning curve for a small company.

Had they done that correctly then I would have no issue with the current CR.

Let's move along. They are still a great company and people need to get over the fact that a past error of judgement means everything is bad. There is still a great future here.