I am disappointed, but it isn't the end of the world. They might have actually done us a favour.
But what I really would like to see is the shortfall closed prior to the 1st WA drill result. If they did that, they could actually be doing us all a favour.
Looks I fully expect the WA drills to fail, but *if* they were to succeed and the shortfall was not available to any of the usual late arrival soph scalper scum then:
- they would have given us a great op to average down on similar terms as other recent share recipients.
- the low take up of the rights would actually place those that had the guts to subscribe pre-drill in a better position as they would not be further diluted at 4c or lower.
I would LOVE for the WA drill to succeed and NO FURTHER shares to be issued. Huge win for me as I will own a greater % of the success and the directors will have lost out.
But if they leave the shortfall open, we have a drill success, the SP takes off and all of a sudden millions of shares are issued to 'investors' and and staff and dumped on the market just like the last time the SP tried to run, well then I am really going to be really cheesed off.
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- directors bluffed the shareholders.
directors bluffed the shareholders., page-3
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