Geez, talk about dilution. Very disappointed at this announcement - didn't think it would come to this. Keep ME, but we need new directors who have more business sense.
And I agree with lexiconfs - they shouldn't be entitled to any options/shares at this time.
I hope they can only raise the minimum amount which is $14 million to minimise the damage (dilution)
After we get a JORC, then go for another raising - preferably at a higher price!!
CEO Price at posting:
4.2¢ Sentiment: None Disclosure: Held