time changes everything?, page-7

Share buy back may correct the dilution at a future point in time but you must remember the following.

Issue capital now 75 cents a share, lets say 10 million shares so $7.5 million dollars to action a stage 2 feasibility study.

Buy back those 10 million shares once cash flows are steadily coming through at say $1.50 a share. Thats $15 million dollars, or double the amount we'd have to pay to simply re-coup the poor capital management initially.

Sorry to poo poo your idea RiverDry but it would be yet another example of poor capital management if they were to go down that path.

If people are falling over themselves to give us debt, surely we can fund some of the stage 2 feasibility studies from cashflow and debt next year when the accounts allow it. Instead of issuing more capital, diluting shareholders in the process, which only serves to then meet the goals of the performance rights so Ian and co can get their swag of free rights, FURTHER diluting shareholders.

It's a joke really and stinks, but unless the wider community of holders are aware then it will fly through without any trouble.

I'm disgusted with the proposed capital raising and the terms of the performance rights. Not the actual performance rights themselves because if they do a great job then so be it they deserve some reward, but the terms as it stands at the moment looks like a blatant stock grab.