The raise is as fair as it can be to all shareholders. Everyone is entitle to 1/6 of the shares they hold. If shareholders choose not to participate that's their decision.
You said the following in another thread.... A popular tactic has been to have a non renounceable CR at a price that is too expensive for many retail holders.
The company has just announced an non renounceable CR at 8c. Is that too expensive considering the current SP?
Even if you were the 10th largest shareholder, you would only have to contribute ~$7200. Shareholder number 20 would only have to contribute ~$3,500. I wouldn't say that's too expensive, but I understand it's all relative.
At 8c, those shares are currently 81% in profit at current prices (14.5c).
Would you rather have a broker being offered those terms, or shareholders?
For now, I'm happy to hold as I see a chairman who is looking to get this project up and running very quickly. The guy has $16M in this company and is looking to drop another $1.5 million. If that doesn't tell you how committed he is, then i don't know what does.
I'll be taking up my 8c entitlement.
