Ann: Transformational Acquisition of the Toliara Sands Project, page-22

@823Inv: Dilution can come about if a company is thought to be very undervalued and has a cash issue. If a company has 1 share at $1.00 but thought (by some) to be worth $2.00 and it has a 1:1 cash issue also at $1 which it uses to buy an asset at fair value then the investor ends up with 2 shares with perceived value $2 + $1 = $3. The perceived value per share falls to $1.50 which dilutes the investors hopes and dreams.

In the short term this sort of move was probably on the cards for BSE and those looking forward to debt elimination and dividends were going to be disappointed. Could be what was holding the share price back.