does westchester get a maximum of 50m, page-2

Westchester will scoop anything that is not exercised and will also get the 50 mil ontop.

I do not like this arrangement at all. Westchester is, in my view, an opportunistic investor with entirely self interested motives who does not care about investor/ shareholder wealth. 50 mil @ 5c / share is hardly good value for GCR. The dilution impacts alone will further erode our holdings, while Westchester will aquire a substantial holding and still be in the black!!!! And what will westchester do with that substantial holding!!!!!!!!!! Take a look at drill search and you will see Christopher Ryan in action.

I want to see capital raising only where necessary and maximum returns for Shareholders under such circumstances. I intend to use all my holdings against the proposed issue at the AGM (a smidget over 1mil).

While a small protest, I am hoping that others too will see the rediculous situation that it represents and join me in the vote against the proposal. Even in the agenda it is clearly stated that this proposal represents a negative consequence - share dilution - whcih indicates to me that not all the directors are happy about it.

GC

Remember DYOR as it is vital to making the right decision.