no i would say now is not a good time.can i repeat - dilution...

no i would say now is not a good time.

can i repeat - dilution itself is not your enemy. show me one company that has done anything without issuing shares at some point. it's only like THE reason companies go public in the first place....

dilution done at a fair and equitable price is nothing to fear. dilution at give away prices most certainly is.

i would hazard a guess that the company would be looking to achieve some further milestones on wonarah development before trying to hit the market up for more capital.

it's in black and white if you or anyone else missed it, they are asking shareholders to renew the discretional 40,000,000 placement facility @ no less than 80pc of 5 day VWAP.

it doesn't mean 80pc of todays price. it means 80pc of the prior five days to making the issue.

so to simplify even further if they get the sp up to say 70c then they can issue 40,000,000 @ 80pc of that.

i can assure you management are just as reluctant to raise anywhere near current prices, and quite frankly i would be quite dissappointed if they do as the outlook is substantially brighter than it was when they hit us with the 43c SPP.