Somewhat odd the chair is openly stating to investor enquiries he doesn't want to dilute his own holding as the reason. The more ethical response should be this is in the best interests of progressing the project to production and maximising all shareholder returns.
That being said, it's a different approach where we are effectively giving away the profitability of the project to progress - rather than diluting holders (which in turn reduces their piece of the pie should we get to production anyway). What it does do it enable people at the top to maintain control which appears the reason based on my first comment.
Look forward to seeing a nice set of numbers on the PFS - fingers are crossed she's a good one!!!
HVY Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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