The raising, so called, is a total disgrace in my opinion. As it...

The raising, so called, is a total disgrace in my opinion.

As it has been said 100 times, the level of dilution is extraordinary and (funnily enough) only works in the interests of a few major shareholders - who coincidentally are aligned with 1 or other of the two non independent directors.....

A quasi privatisation - and not even subtle!

We were told - at the 11th hour - of all these pressing debts (not to mention the inability to deal with the con note after raising funds earlier in the year/late 2017 - specifically to address at least part of that loan) and yet concurrently we have seen massive capital expenditure eg the shotcreter, the tailings dam expansion etc etc.....upgrading the mill, new mining fleet.

Their ASX release of 28.11.2017 included this statement:



Why was all this money expended whilst the bills were seemingly not been paid? Why didn't they rent/lease/hire items rather than buy them outright if money was that tight?