This capital raising stank from the beginning.
All the discounted shares went to the directors and their mates and Alkane.
Retail shareholders were left with only 1 for every 6 held, with all the shortfall to Alkane.
Other gold companies are offering shareholders much better alotments.
It sends a depressing signal to long term retail shareholders here, of how much the company doesn't give a damn about them.
This capital raising was a snouts-in-the-trough exercise for insiders, and my faith in this management's credibility and fairness has been severely dented.
If this example is anything to go by, then one thing you can be sure of, is them not giving one damn consideration for looking after retail shareholders in the future.
Gw
Ann: Proposed issue of Securities - GMD, page-5
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