Well we will soon be facing the need to raise more funds. So i thought i would pose the question to see what others are thinking about this. We all realise that with the amount of scrip we already have on issue it is important from now on to be very careful about how future cap raisings are done in order to minimise dilution.
Personally i would like to see a small placement done first up. Enough to cover drilling of a series of targets. Hoping to value add through that program then raise further funds at a much higher price ( wishful thinking maybe ). Got to be careful imo that a large scrip issue is not done now. Because if it was and then we were to strike good intersections prior to November 05 this year then all the options would be converted. Resulting in another 134m shares coming online. Now management ( i dont know their feelings about dilution ) may think yipee that will then give us another $10,050,000 in the kitty to spend. But it would not sit well with yours truly and i imagine a lot of you either.
What i dont want to see is a wholesale rights issue. As rickh has already mentioned on another thread.
SRI Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
