Miningnut,That is a brilliant scenario: MSC underwriting the SPP...

Miningnut,

That is a brilliant scenario: MSC underwriting the SPP and thereby increasing its stake. If MSC had been offered a placement at 15c there would have been dramatic objections. However since the SPP will likely have a small uptake from shareholders MSC would get it by default without a murmur. Either way it is a slap in the face of shareholders. Present management has shown complete disregard for shareholders by the incessant issue of new shares.

MSC took its earlier stake at 28c. Perhaps it is possible that they have since objected and asked for an issue at low price so as to average down the holding.

I also puzzle over what positive announcements BCD could make in the next few weeks. If the SPP had been arranged for September then the high grade gold extraction would make a good publicity, the share price would be higher, the dilution would be less, but then there would probably be no need to issue more shares!

Juke