Existing shareholders (long standing) have been literally swept off the table into the bin!
I now understand why they suspended for such a long time, as they would have been worried about the share price appreciating further, after they have given the company away @ 1c per share.
220 Million shares to 2.84 BILLION shares in one stroke, (dilution factor of 12.9!) and that is just to move up to the higher percentage of the project. Imagine how many shares there will be on issue if and when they ever get to the stage of establishing a mine!!!!
Many existing long term shareholders would have an average of 5 or 6 c/share, so a 5 bagger would only get them to break even............. if they are lucky!
I am still reeling from this announcement....................bullshit ....spot on!
LL
NZC Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
