re: Ann: MEO: Acquires additional 5% equity i... I disagree. Very poor price.
Do the maths - this is the equivalent of issuing 144m shares at 5.7c.
It would have been less dilutive to do a placement at even 8c or 9c to raise the same amount of money. Surely that would have been achievable....I would have subscribed for it.
Or wait until closer to spud and raise it north of 20c.
Very disappointed with management's lack of intelligence on this one.
Pre-drill upside is now 42c (down from 62.5c).
Shareprice on success now just over $2 (down from just over $3).
Still good coin....but could have been better with a more astute capital raising...
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