Ann: Conversion of Redeemable Convertible Preference Shares, page-49

No doubt we will still be cheap, but gee, they didn't even need that cash to settle in the end due to the lower settlement price. I think with the right marketing we could have got the share price to 30 cents buy Christmas and raised at 20 cents plenty to pay these out and fund some escarpment works for increased production.

If they needed cash personally they could have paid them selves a bloody bonus, not sold a quarter of the company for $11m.

Just because we're still undervalued doesn't make this decision right. In fact using undervalued script to buy an undervalued asset dilutes the whole power of getting a bargain in the first place. I'm from Melbourne so getting to AGM's isn't easy. But unless they can explain why this was the best course of action for all shareholders they have a strike coming their way.

I said I thought we'd be 30 cents by Christmas, now maybe by Christmas 2018 if could prices hold up. #badstrategy