Yes I agree with you that the shareholders cannot complain that they haven’t been given the opportunity to put in more funds. It is a strong opportunity, a 1 for 2 rights issue, and the company should be applauded for that.
But we can disagree on the rest. We have nothing to do with the timing, the amount raised and the price. I’m not going to accept any blame if they come up short. Many companies raise capital without involving shareholders because broking houses access their list of sophisiticated investors and get the job done quickly and reliably. The company chooses the path to raising new equity.
Anyway. Let’s see what the future holds. Bring on the drilling.
Gosouth
TRT Price at posting:
7.8¢ Sentiment: None Disclosure: Held
