@wibles I sent you post directly to Brian Thomas. That was well...

@wibles I sent you post directly to Brian Thomas. That was well summarised to the thoughts of an LNR shareholder.

It seems like BT looks defeated after the Mt Holland disaster and has agreed to the new Chairmans ideas. But this new chairman has not thought this through at all. This is a disaster scenario of dilution for existing shareholders.
As it is at 0.001c that is below cash backing, where it should not be. Then to have cash and ask for more is completely unethical.

The only saving grace from the announcement I see is Mr Peter Pawlowitsch, Non-Executive Chairman, has agreed to sub-underwrite the Entitlement Offer up to a maximum of $257,000.

Usually if I see a director take a large slice of the cake is that they will make sure the company becomes a success and they make a bucket full of cash.
On the other hand you have 95% of the shareholders praying they'll just make there money back if the SP rises.

I can't see this CR being successful. Even with PP taking a slice and Inyati, there'll still be a load of shares left over they can't afford imo.
Seriously I've seen this before on many occasions.
The heads will get dumped by Inyati and the sophisticated to make their money back and just keep the options.

Other frustrated holders will also dump into the consolidation causing the SP to recede further. I can't see anyone interested in buying this new company untill it hits rock bottom SP or the company comes out in the next few weeks with a killer acquisition.
Then we all have a reason to participate in the CR if we can. Otherwise LNR could be looking very red faced if the CR fails to reach their target.

Gee whiz I've seen companies dig there way out of a cash position of way less than 1 million and increase the SP significantly, An example being GCM 0.002 to 2c+