I'd be wandering why they needed to dilute anyway right now when...

I'd be wandering why they needed to dilute anyway right now when they had $100m in cash?

If the split is 50/50 - thats $50m to go to each entity which is fair - so why the need to bring instos in at a reduced sp of $1.48 because not only is that dilution its also a loss of value between $1.48 & 1.70 ie 22c thats been gifted and for another $100m which would give them $200m but a lot more shares - from the last 1/4 and this placement would be over 600million shares now - a simple question anyone needs to ask is if the 1/4 that come out was that impressive then the instos would have bought into it without needing to be "gifted" cheaper shares?

I want in on the gold spin-off like the big boys appear to be but be damned if I'm paying more than the new diluted price to carry the risk of holding 50% of what I want and need to do what with the 50% I don't want? Dilutions suck no matter who you invest with especially when the need is not obvious in fact they likely could have done with $20-30m which I'd imagine they could have gotten from existing shareholders to use in the split so that the dilution only hurts those who didn't want to buy more giving those who did the chance to buy even more.... Why the need to bring new instos in when the split would have them lining up to buy anyway thus really pumping the sp benefiting existing shareholders?