re: 31.5 million tonnes satori
There was absolutely no reason for management to raise these additional funds and futher dilute current shareholders. If they were serious about DD prospects (after forking out $6m to buy the project) they could have sold part of the $5m worth of shares they hold in MTX. This would have generated sufficient funds to continue drilling to prove up reserve, and later down the track raise money at a higher price. The raising at 3c a share is a big discount to where the sp has been over the last few months, and is not warranted. This only raises more concern to the sincerity of management. I would also like to know why ASX did not issue "a please explain" to the substantial drop in share price.
AEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held