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4.8¢ consolidated zinc limited

Disaster on the horizon..., page-2

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4,335 Posts.

277

06/06/18

23:43

Post #: 33546553
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Originally posted by ceh2009 ↑

So by December 2018 they need to issue 50% more shares than are currently on issue in order to exercise the deal with the Mexicans (assuming what they have told the market is actually the truth).

Not so bad if it was a rights issue but you can bet it will be a free for all for the Chairman's rich mates.

Or they'll default and be left with a stranded 51%.

Bottom line is they are going to have to issue A LOT at 0.05c which is close enough to shell value. But even at shell value these fellows have shown an almost super human ability to destroy shareholder wealth so expect to be diluted and diluted again.

Time to spill the board (or the Mexicans will do it for us!)

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One shareholder on the board seems to be going along with the dilution just fine.

CZL Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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