Buy your entitlement.. no dilution.. all OK, page-7

Hi All,

I think the renounceable rights issue is the best outcome for current shareholders. They have the opportunity to participate if they want to or sell the rights back to the market if they don’t.

Over the past six or seven years investing in small to mid-cap explorers/miners, the only ones that I have seen gain is the directors awarding themselves share and options, their cronies, the financiers, Pattersons and the sophisticated investors. They have been the only ones who have benefited from the stock dilution and vastly discounted prices, then immediately sell for a quick 10-20% gain, sometimes suppressing the price for months. The long-term shareholders usually get to sit on the sidelines, bend over backwards and get screwed (pardon the language, but it is a statement of fact from the companies I have been involved in or have been watching).

This time it is different. Yes the price is substantially discounted, but unusually we have the opportunity to participate. It is more like the 1980s and early 1990s when directors looked after shareholders interests and not exclusively their own which is rapidly becoming the norm.

I will be taking up my full allocation to average down at this level. It will only take a sniff of good assay results or increased interest by the majors who are eagerly watching (assuming the certificate comes through soon) for the share price to gap.

It looks like once the certificate is signed and drilling recommences there will be a string of announcements over the next 4-6 months.

Hold on to your hats and enjoy the wild ride.

DYOR,

Cheers,

GrayNomad