As above my statement not disregarding asx listing and ongoing requirements if I was WMC management I would have done circa 20 cents a share 2 held for ten new issued and raised 120 mill approx not good initially for holders but enough to get to the point of wmc producing 120 k ozs a year. The losses made on that transaction for shareholders would be returned within an 18 month period and by that stage wmc would be a workable profitable gold mining producing company so. 5 to 1 dilution instead of one for one but much more capital raised enough to push them over the line
