I can understand the dilution ariing from the placemnt to the...

I can understand the dilution ariing from the placemnt to the instos at 18 cents .
But this dilution
The actual number of ordinary fully paid shares in Red 5 to be issued will be determined by dividing the amount of A$1,850,000 by a price equal
to the VWAP in RED for the 30 trading days immediately prior to the completion date, pursuant to a sub-lease agreement
announced on 22 May 2020 between the vendor, Andrew Paterson and Darlot Mining Company Pty Ltd (Darlot) (a wholly
owned subsidiary of RED), with the completion date expected to be on or before 29 May 2020. The actual issue price will
be the price equal to the VWAP in RED for the 30 trading days immediately prior to the completion date.
is one of the best deals done by RED in recent times.
It secures access to a likely 185000 ozs of gold for the Darlot mill at a time when depletion of the existing Darlot reserve is an open question.
The fact that it is at RED's election to pay in cash or stock speaks to the attractions of the deal . This is the very best dilution !