You’re unhappy with a strategic investor that could also buy the business in future?
You’re unhappy with getting the local community on side by stopping truck movements ahead of time?
You’re unhappy with a $6/t reduction in cash costs, which provide another buffer to any price volatility?
You’re unhappy with an INCREASE in profits and cashflow as a result of this move, which offset the dilution impact - how much and whether it’s fully offset in a NPV sense is unknown but with this move CASHFLOW will be higher than originally expected so dividends and a buy back are options that are now brought FORWARD.
While dilution typically isn’t great I think this is an OUTSTANDING move and I’m sure the price action today will reflect that.
AHQ Price at posting:
10.5¢ Sentiment: None Disclosure: Held
