Anybody else had a look at the details of the general meeting that was announced late on friday.
The company plans to issue up to 100 million new shares at 80 per cent of vwap price, that would certainly solve any issues about having the cash for short term drilling.
Also they want to issue incentive options to directors that can only be exercised at 45 cents, they must be very comfortable with the potential dilution as it would make it a lot harder to get the sp to that level.
Looks like it is a preety big trough that the directors are feeding from, but i guess if they get the share price north of 45 cents then nobody will be complaining,
i would say that the directors are very confident that they can get the share price to at least that level
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