Ann: Arafura launches A$20m placement and A$7m SPP, page-197

"Project is worth multi billions and very large long mine life."

you say ,

So if true , and easily explained , why does the current management give shares away to NEW investors so cheap ? Why

1)not bother to SELL the fact that the shares are cheap at 36 cents for new investors and allow the stock brokers to earn their % by selling the story
or
2) offer the shares only to current shareholders at 16 cents , as a reward for already committing to the company future. Make it a 1 new share for each 2 shares held. If all shareholders accept , would raise about $150m MAX , however not all shareholders would take it up , but we would get at least $30 m I am sure. reward for existing shareholders. instead existing shareholders have to scramble for a share of $7m worth of new shares.Not wasting my time.

The answer is LAZY management at least , who are showing their contempt of existing small shareholders .

I am frankly angry at this consistent approach by current managements of most smaller companies.they are lead by the nose by the broker firms