Did anyone read the Notice of General Meeting ?Resolution 2...

Did anyone read the Notice of General Meeting ?

Resolution 2 seeks shareholder approval for the issue of ordinary shares to raise up to $ 3 million. The shares will be issued no later than 3 month after the date of the meeting.

Resolution 9 seeks shareholder approval for the issue of up to 91 million shares representing 15% of all shares then on issue determined under the " Signet Agreement" (Signet Shares). The effect of resolution 9 will be to allow the directors to issue the Signet shares during the period of 3 months after the general meeting.

The Signet shares will be issued to an escrow agent as determined by, and held by escrow accordance with, the Signet agreement and the relevant escrow deed, which is yet to be signed. The Signet shares are issued as security for potential payments by the company due to Lighthouse in accordance with the Signet Agreement.

http://lighthouse-strategic.com/mining/

No proceeds from the issue of the Signet shares are expected.

What does it mean ? 91 million shares to Lighthouse for no proceeds. Resolution 2 shareholder approval to raise up to $ 3 million. If Lighthouse get this shares of course they don't want to be diluted by the capital raising of up to $ 3 million.

Anyone agree with that ?

When i did read the Resolution 2 i thought this could be the cash payment for the merger in accordance with the "Signet Agreement". So Lighthouse should have the intention to minimise the dilution by the capital raising. Lighthouse want to get the $ 3 million cash without dilution of their shares ???

Of course the share price should increase extremely !!! What will they do ? Maybe they have a potential JV and/or offtake partner...

Was it that what the lenders see ???

Just my own opinion !