"Dilution or die, you have little choices"
Actually WSS that's not necessarily so. It's not dilution to shareholders if they are given the chance to paticipate in the capital raising.
Management could very easily have offered a pro-rata issue to all with the sophisticated investors taking up any shortfall. And the sophisticated investors also get to participate as they are already quite large holders of GPN by virtue of last year's capital raising, and for some of them via earlier Scook deals that they were involved in.
As for the price moving above 1c, of course it will, otherwise they will be throwing away their initial $214k. But what price would they need to pay to try and get 714m shares on market?
I can tell you it would be a lot more than 1cps.
Had the company decided to issue more GPNOB instead of these cheap unlisted options then there wouldn't be a problem as everyone is in with the same chance of success. It would even encourage the company to get the price above 2.3c so their mates don't lose out.
GPN
greater pacific gold limited
