As a (recently) new shareholder, I'm a little disappointed by how heavily they've discounted the rights issue. $4.9m @ 3c will add approx. 163m shares to the registry plus the 90m 6c options if converted. This is a significant percentage dilution to existing holders who choose not to participate. I almost feel obliged to cough up!!!
All that aside, I'm prepared to back management to use the funds wisely and advance the Cape Flattery project forward accordingly. I'd like to think that the Flannery family wouldn't be investing over $2m without the potential of a significant return.
MLM Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
