That's a thoughtul and accurate analysis, Spinoff. Thankyou.
But I do think, with Honkie et al, that the Board could have worked a lot harder to improve the share price before this raising.
The relative valuation of our existing resource ounces has long been out of kilter with others (unbelievably, management will unembarrassedly and complacently point to this fact as a defence for their incompetence, as though they have no part to play in altering the market's perception of the Company!) - and at the very least, we might've expected the timing of the raise after the resource upgrade, when the implicit extra value here (which existing shareholders have paid for) had actually been spelled out.
As it is, shareholder equity is just lightly thrown to the sharks on the Terrace.
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