re: Ann: Non-Renounceable Rights Issue for St... Just saw a media release for Centrex which is another good Iron ore play in SA. WISCO now own 13% of it with 40mill shares issued at 25c. Current price 63c. This deal was done when the GFC was at it's peak.
This is a huge amount of dilution for raising $9.7mill.
IFE refused to be pushed into any deal with WISCO back then as management had the foresight that things would eventually improve.
Calm and experienced management is what we have as well as a great resource. The benefits to shareholders will be enormous later
Ann: Non-Renounceable Rights Issue for Stage 1 Pr, page-5
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