Ann: Capital Raising Presentation December 2018, page-165

You can make the case for the company until your voice goes hoarse as I’ve been doing for a long time but it’s about attitude. Read my post on the history of the Dacian raisings.

A$94.4 million of their largest equity raising in 2017 was by way of an accelerated non-renounceable entitlement offer to existing shareholders.

This is the attitude that says we are a company of shareholders and any value increments that we can by skill or fortune achieve by our good deeds are to be shared by the company of shareholders. We don’t go to the street corner and lift our skirt for the first smiling sailor.

If you don’t understand attitude you have still got a lot to learn.

The company has lost my trust and now I’m just hoping the project pulls us through. Not a happy state of mind to be in when owning shares, but a state I will need to endure for better or for worse as I’m locked in now. The banksters have me by the balls on this one and I’m not going to play the averaging down game given the risks ahead. Jahadists, non-turn key building contract and muted Capex increases as per suggestions in previous announcements and the oversized and upfront raising, not to mention the usual risks of operating in these African sheet holes. Esh