Happy to see that the directors do at least appear to be favoring rights issues. In the past they have almost exclusively helped their mates at the big end of town at small shareholders expense with placements. A bit concerned is that they are still allowing themselves the option of issuing shares on a basis other than in proportion to shareholdings and will vote against this one (resolution 11). As for political donation dead against this one. Will be going to the AGM and will want to find out more on how that may raise the $200m required to process the sulphides they have spent time (and money) proving up in the reserves for Simberi. I hear Lihir will be also replacing their autoclaves for sulphide processing ay about the same time since it appears their current equipment is aging and not very efficient.
ALD Price at posting:
$2.06 Sentiment: LT Buy Disclosure: Held
