result of capital raising was 9% drop in SP. Lihir could have eaily continued without a share placement. Their rational is 'we want to take advantage of drop inmaterials/labour etc and expand our plant.' Point is however much cheaper it is for LGL to build new plant now....it will be a lot cheaper to build in 12-24mths time. no need to milk shareholders yet again. They are empire builders and paying part of profits to shareholders doesn't get much mention from these directors.
why another placement, page-22
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