Posted by PrimoTrader of Top stocks "How true"I am still...

Posted by PrimoTrader of Top stocks "How true"

I am still astounded by this capital raising strategy.

In principle I am not against capital raisings but the 2 big questions are:

1. Why exclude ordinary EXM shareholders from the capital raising??? With less than 4,000 shareholders, surely the costs of a broad cap raising would have been relatively low. At least for those of us who would like to participate could have averaged down our cost of holdings and offset the dilution effect; and

2. Why offer a discount to the then share price of 1.4cents? Surely the resource and development strategy would demonstrate that 1.4cents was already a discount to the true value of the coy. This shows that perhaps the board were not confident in attracting investors willing to pay a premium to the share price of 1.4 cents.

Both these points demonstrate a slap in the face to ordinary EXM shareholders.