The message I'm taking from the company announcement is the...

The message I'm taking from the company announcement is the opposite to this - I think their comment about long term goals is a pretty strong hint. I mean, look at the announcement after NZPAM declined the extension of mining licence application for Rahu. People were up in arms about the NCM JV being lost but the NTL announcement said delighted to keep working with NCM or whatever it said. Is it equitable for shareholders to reward short termers and those who did not take part in the rights issue?

Well, possibly not in my view.. At the end of the day the company has a discretion so if you want them to go a certain way then write and tell them!