Why pre-approve to raise money at an unspecified price and quantum?
If something amazing comes up, let them ask for our permission.
In the mean time the only way you can get anything good out of ASX management generally, is to let them work under the pressure of losing their wage. Otherwise they simply dilute you at any price at the time to keep their gravy train going. Unfortunately the corporate culture in Australia is such that this is the safest way to operate as a shareholder as a general rule.
Dirk- Letter, page-19
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