The historical backdrop af ATU going back to as far a 2012 has little to do with ATU now under Max Wang’s leadership and the new Board oversight
Previous cap raises were unfocused under dubious and incompetent management who had zero experience in ever building a mining asset
Looking fwd, Warburton have just gone to 19.9% which is the max threshold they can acquire outside of a takeover bid
If you look at the history KSD thats exactly what they and Regal did with Riversdale ... create a blocking stake that prevented Gina from trying to acquire Grassy Mountain’s assets with a low ball bid
This is a good move by both Warburton and ATU IMO as it fully funds them through to approvals and prevents an underhanded bid from a thrid party
This was obviously hatched a number of weeks ago prior to Warburtons purchase of the Regal stake
Warburton are extremely astute and thorough in their DD processes and know the Alberta mining sector better than most which should be a big sign of confidence to shareholders
Shareholders who were excluded from the recent raise can still buy in the mid 20’s range
Thats a small price to pay for securing development funding and building value
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