They timed the acquisition with stock poorly considering the problems at Gwalia.
Ended up proposing dilution at a much lower price than anyone would have liked and it copped a hiding.
If you dial back 12-18 months, the fundamentals of the business haven't changed a whole bunch and they've added to their production profile.
Probably paid a bit too much for Atlantic but its a good resource so it will always come at a premium.
They timed the acquisition with stock poorly considering the...
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