They have diluted all their shareholders holdings by placing...

They have diluted all their shareholders holdings by placing shares, again,at a discount, again, with so called sophisticated and institutional investors.
They should have offered the shares to existing shareholders, they have stuffed around with White Dam for years, its cashflow should have been funding this work now.
Any of you posters NOT looking through the rose coloured glasses have a good think about how these blokes are operating the funding arrangements and who really benefits from it.
Gooday