Yes a right dilution ... quite the saga ..
they must have been confident in raising @ 1c again stepping up just under mill+ of their own money (some debt transfer to shares)...
But of course, the interest must have been so bad from S/Hs TOP20 etc they thought stuff S/Hs then if they don't want to front to help the company out we'll drop the price 40% and secure more of the company for our money !!!??
In the background of course I don't know why we can't have an update on "lucky strike mill' potential operation how far away ...does the mgmt not understand you have to engage with S/H to entice them to put more money into the company they have seen drop 70% in the last year!!
I am wondering if MW will acquire more shares in DTR. They currently hold 4-5% and could potentially buy many more rights and oversubscribe. they have inside information on when Lucky Strike will be in production? Maybe they are thinking stuff paying DTR $8.3 million if we can keep pressure the SP downwards as we have seen with the last CR fall over, and now there's a new one with a far higher dilution. They could build up a sizeable stake in DTR stock and then put the thumbscrews on and force mgmt into accepting low-ball takeover offer 1.2c etc?? MW doesn't have to pay the 8.3mill .. they pick-up another 1.1Moz Gold + mining licence
Guarantees for Payment
MW is owned by a consortium of high net worth USA investors.
An affiliated company, MW Sorter Pty Ltd (MWSA), has been established in Australia and has agreed to purchase a 5% holding in Dateline via shares that were available as part of the recent Rights Issue shortfall.
MWSA has provided a guarantee to Dateline for the performance of the obligations of MW pursuant to the Gold Links.
Should MW fail to perform in any of its payment obligations including failure to obtain regulatory approval.MWSA has agreed to pay to Dateline the sum of USD6.275 million (A$9.43m) less any amounts already received by Dateline from MW.
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