Ann: Pilbara Launches Equity Raising to Complete Project Funding, page-40

Some food for thought. You would think that KB and exec team explored all available options to best fund mine construction. You would think they selected the best possible terms for this arrangement. There may have been other options which don't effect dilution but may have been a more expensive financial vehicle to utilise. So once the mine site is built and operational and you still have not seen the returns you are looking for, then you have some options. Sell at a small profit or loss how ever deep you are in the red, or if you feel that management made poor decisions on your behalf to get things to certain stage then vote against them in the next AGM.

Let's see how this looks like once the mine is built. From what I've read of the bond issue announcement, the pay back period looks inviting and if all goes well and the scheduled payback period is maintained, this operation will be a very lucrative asset for many years to come.

Wolf