"the little man always get screwed"
When you invest in any small cap developer and especially explorers, you absolutely have to allow for dilution in your assessment of your investment and the effect of that dilution on your sp targets. That is realistic and helps you avoid disappointment when the inevitable cr's come.
As others have posted, we should have expected this one after the SWF investment changed from buying shares in Minbos to buying a stake in Phobos.
The former would have allowed Minbos to use part of the cash for overheads but the latter does not. So this cr appears to have been unavoidable rather than a deliberate intention to screw shareholders as a couple of down rampers on here would love for us to believe. Raising the required cash isn't screwing us, it allows us to see our investment unfold from a developer to a producer. The level of dilution is much smaller than what it would have been if the capex was a more typical US$150mill plus. That is why there are still multiples of upside to come as this transitions from developer to producer.
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