Another placement at 3.5c with free options..great. What about a Share Purchase Plan to shareholders or are we going to be left behind again. Clearly, GGP's management must feel that this company is worth no more than 3.5c per share.
I thought GGP had a sound financial position and wouldn't need to raise further funds especially with its strong cashflow. However, the 9% purchase of a further stake in the Bullseye Project doesn't make sense to me as it had sold a 8% interest in the very same project back in Mar 09.
Why not take a greater interest in the Fausse Point Project instead with strong potential upside in the event of success.
I sold some of my holding today in protest for an average loss of 10 percent.
DYOR
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