Completely agree with your points - it's just I think that you...

Completely agree with your points - it's just I think that you have misread what happened due to your sometimes pessimistic outlook (which I often share - not having a go).

If the capital raising had of come along, I for one (and I know quite a few others as well) would NOT have taken part. I was all in already. Those that don't share the same risk tolerance as me believed in the story still, but we were a TINY company back then, and they had as much cash as they were willing to invest put in to the company then as well.

The reality is that people weren't buying. If they had been - then the price would have been higher.

Management's job IS to maximise value for shareholders, of which they are some of the biggest.

The reality is that it's often the 'suits' and the 'deals that get done' that turn a company from a minnow into a behemoth. There have been hundreds of mining companies that have had an amazing resource, but haven't been able to pull it together, and whether you (or NB himself) like it or not - doing 'deals', and winning favour is necessary to extract value. Sometimes it will look like one party gets a better deal than the other, but it is then Managements job to extract the most ROI on each "deal"

And make no mistake, any time there is a "deal" or a CR, managements job is to ensure that they more than make up for anything that they had to 'give up' to get the deal done.

ie - they had to dilute the company to get their hands on this 10 mil. So I expect them to use that 10 mil (and whoever it is connected to) to turn our company from a $200m company into a $400m+ company.