IMHO shareholders should consider voting against the upcoming 15c placement with a free attaching option.
Why. Well to my mind why does the company need to raise $3 million cash when the farm in fee to Genorah is only $300k and the company currently have over $4 million in cash. In addition to this revenue should begin from the Mt Ida gold mine in the next few months which will fund the ongoing exploration commitments in South Africa.
The Platinum farm in offers considerable blue sky growth potential for the company but why should new investors be offered a discounted entry price of 15cps? I think a sweet deal is being done for a few fortune people but it is not in the best interests of the company, nor necessary. I think the dilution of stock is unnecessary, and I will be voting against the placement.
upcoming placement....
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