Big dilution once more - current shares on issue of 201m after the recent 1 for 15 share restructure / dilution will now increase by 43.5% to 288.5m if they raise $3.5m @ 4c.
Hopefully the second Tranche, with settlement due late March, will be available to existing long suffering share holders ...... let's wait and see.
As I said earlier, had Directors waited post the announcement of the pending updated resource figures due within 7 weeks and on the assumption the additional drilling results will significantly increase the existing resource, this placement would have been made at a higher figure than 4c with reduced dilution to existing share holders !
Will be interesting to see who the recipients are !
GMR Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
