If the company is years away from production, most people should be aware that multiple raising are likely to happen before then.
Before then, we either achieve some things that boost the share price -
- Strong drilling results.
- Improvement to numbers in the studies.
- Gold price rising
- Takeover
Then raise money at a stronger SP.
Or if no positive surprises happen, then the SP falls as discounted raisings happen, to continue the development process.
So any holders with a multi-year outlook should be ready to participate in any raising that happen, to offset their dilution.
It's not like holding a cashflow positive producer.
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