I guess even with increased shares on issue if nothing else changes the market cap should increase (reflecting the extra cash on hand) and therefore dilution shouldnt cause share price to stay stagnant at the rights issue price?
"Upon formation of a joint venture each party will be required pay their respective exploration and development costs on a pro-rata basis" -
Is this what you mean when you say "Not to mention a larger stake in the NCM JV"
Ann: Shortfall Announcement-NTL.NZ, page-42
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