Ann: Placement completed , page-10

Even thought the share price was discounted (Not so good) there were no options offered (Good), It seems to me that they needed a quick and relatively small cash top up rather than going through a big general offering to all share holders. This is all fine to me as long as "this is it", and was enough to get them though with future cash coming from gold sale earnings. This is indicated in presentations from Hill End as they show no dilution on increasing production going forward. (Certainly sounds good) Personally I would not be too surprised to see more dilution for capital equipment at some point however, that would not worry me too much, but dilution for cash expenses from now on would be a disappointment.
I believe they can manage this without further dilution if they are careful now, doing so should deliver a share price multiples higher than present.