very transparent anouncement

This should rank as one of the most dissapointing days in terms of announcements for MAK holders. Not one shocker but two. More free stock for bon holders, and the one to top it off, 43c stock to all and sundry as long as you are on the register after a certain date.
Directors have meekly shown their hand and effectively announced that they hope ordinary SH pays for the mine as all the offtakes and institutional raising has evaporated.
This will trade at SPP price tommorow and cant see anyone realy wanting to buy into SPP.
If there was any credibility in this they would've done it like any other conventional rights issue, i.e pro rata one share for every two held, but wait that would mean that the very capable directors of this great company would have to spend craploads of money to support this dodgy scheme.
Good luck to all "loyal" holders that are about to be "rewarded" by AD.