Here is my take.....it is the best deal that we can expect, especially from current management. Keep in mind that the share price was above $3 for years, and they quite concievably done an equity raising back then, with a huge amount LESS dilution. The only reason they didnt, is becuase they wanted to be the next Andrew Forrest, and do the entire financing through debt. DF even mentioned that early 2008, they could have raised the finance, but 'it was just too expensive'. You can summize that it would have been substantially cheaper than 20% that they have been paying over the last 12 months. Now they have substantially increased the capital structure, and the SP will be stuck around where it currently is unless the Moly price increases substantially. This management team has a proven track record of being a bunch of geese.
MOL Price at posting:
$1.32 Sentiment: Hold Disclosure: Held
