It was nagging me all yesterday that I might have been right about the share issue percentage the first time, but I hadn’t got back to check it. What you are saying is that the share holder approval for the prior Transmine placement restored the normal 15% placement capacity, and that was supplemented by passing the resolution allowing an additional 10% placement capacity giving a total placement capacity of 25%.
I am not particularly well at the moment, so that’s my excuse.
Thick as a brick, I just realised, that share placement resolutions make sense vis-à-vis the short time frame announcement the following day, Friday. Presumably they were waiting for that approval in order to be able to reach an agreement with somebody to stump up with some more cash in exchange for shares. I hope that in the light of the operational improvements, it is not at a bargain basement price. But then again, beggars can’t be choosers.
DML Price at posting:
3.0¢ Sentiment: None Disclosure: Held
