Hate the dilution at such a rock bottom price. Guess it was pitched so as to get most people to double down. Sadly the price as is almost always the case drifts down towards it on the open market.
Of course one can sell the rights during the next week, but at what price?! 0.001c? Not sure if there will be any takers.
The price would be much better if they did something with the Hanang in Tanzania IMO. Granted gold is in no-mans land after failing to crack USD1,350, but give it a year or so it might be trying to break that resistance level again.
Disclosure: Will be taking up my modest entitlements, and will also be looking at getting into options once they are trading.
Ann: Entitlements Issue - Letter to Eligible Shareholders, page-4
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