A General Meeting has been called for 17 December 2009, to approve a capital raising placement of $200 million (yes, million) for the purposes of:
(1) The expenses of the Placement; (2) development of the Simberi Oxide expansion and other debottlenecking initiatives; (3) development of the Gold Ridge Project in the Solomon Islands
Guys, my points are:
(1) If "debottlenecking" is such an issue, why was this not raised at the AGM?
(2) Potential dilution of shareholding is greater than 50% (!).
What do you all think? I personally think it's crazy, and a sad reflecion of the SP over the last few weeks from a gold "producer".....
ALD Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
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