The dilution could have been a lot worse.
TAM announced today they are doing a 2.3 BILLION share placement at 0.5c per share. I bought TAM for 14c and sold 11c earlier this yr.
It's very interesting ML chose dilution over debt as debt seemed to be the favoured option several months ago (just goes to show how bad times are at the moment). Also interesting the Dubai Group expects a 250k oz pa target by 2011. I wonder if they'll end up being disappointed?
But hey, this is good news as it alleviates any insolvency concerns we had about the company.
Rowingboat.
great news. oil money on board now., page-9
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