good money after bad ? , page-6

Farmboy not sure you have any real understanding of what's going on here mate. The company is issuing another 199,906,923 new shares!! These shares will cost anybody whom wants to take part 10c each. For me my holdings (which are substantial) have been diluted by half which it states clearly on the Pro-Rata Entitlement Issue:
"You may do nothing. If you choose to do nothing with your Entitlements, while you will continue to hold the same number of shares, your interest in the Company will be diluted and you will receive no value for your Entitlement."
So in play english every holder prior to this Rights Issue needs to find more money to double their holdings so they have an equal chance after this is all done and dusted and in my case a huge amount of money.

To me this is a way for Andrew Forrest to accumulate a huge holding in this company which he will probably bequeath to his private charity, as the options which are due to expire on the 19 Sept will probably lapse as the shareprice will be way under the strike price of 40c. If he does choose to exercise them then there will be another 115 million shares on issue which is dilutionary aswell.

As you are not a holder you wouldn't have received the offer and therefore you're only looking from the outside on this issue. I have been holding this company for many years and in this time the company has had some progress building a large nickel resource but it hasn't translated into any shareprice appreciation. As this is the ultimate reason why people invest in exploration companys for capital growth this management have yet to deliver anything tangible for it's shareholders.

These views are personal but I am very intrigued to what is going to turn the shareprice around in the short to medium term. Good luck to all long term holders and to people like Farmboy if it so good I suppose you will be changing your disclosure soon.