We can complain all we want about these new securities being issued but it's kinda pointless. These options were issued back in 2020 when they were raising funds to take a punt on Juruena. It didn't quite work out as we all know but it's part of the MEI history now. I think they did two CRs for the gold assets which totaled to around $15m (including $4.6m from remaining options) and converted that into approx $30m AUD from Juruena sales so that's not too bad of a return.
Ann: Cleansing Notice, page-15
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