I am not too concerned what the share price is for the capital raising is, so long as I get the option of participating and avoiding any dilution.
Higher share price = less dilution and better for the company bottomline but less capital appreciation for me.
Lower share price = more dilution but more capital appreciation for me.
Both cases balance each other out.
Worst case for the long term holders is that they sell at a low price to a select few. Not kosher.
Good decision to retain the mine though.
hillgrove goes it alone on kanmantoo project, page-20
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