Spot on Towie.
Only a few hours ago I was saying the exact same thing to my father. Why should we pay for something we already own? I too will contact Beach about this absurd behaviour.
Its like HDR saying we are spinning off our Mauritania asset and are offering shareholders priority allocation at X amount per share even though we already own it.
The fair thing to do is to sell the gold assets and either distribute the money to shareholders or use the equity for further drilling.
I cannot work it out! The only way I see this as legal is if Beach has rights to these prospects but doesn't actually own them which isn't the case as it clearly states they own the gold assets.
Surely ASIC will not allow this! I'm sure we will hear more unless there is some sort of explaination.
Regards,
xmagx
any beach shareholders out there , page-5
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