This looks like the deal will be done somehow in the next month and via issue of shares. And at market price or less. So this has been a total stuff up by management. Delay in decisions means uncertainty, and that drags down the share price to rediculous levels. Makes it great value for the new investors, but a total disaster for current holders. Fine if you are the ceo on salary, you get to have fun drilling away and can just keep on refunding via more and more dilution, but terrible foe current investors. I hope Im wrong, if they got their act together months ago a placement could have raised the funds at 15c, now it could be as low as 5c...
Ann: Notice of General Meeting/Proxy Form, page-3
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