Drachma, i don't agree with another cap raising, the last 2 x...

Drachma, i don't agree with another cap raising, the last 2 x cap raisings which were a share dilution essentially were a disaster, they raised over several hundred million, for those who didn't buy into it, their shares got diluted massively, for those of us who did buy into it have lost a considerable sum of money since the last couple of cap raising, although i haven't sold, i haven't produced a return on that money since i bought into it, even the DRP they had going was a disaster, the share price has never recovered and I'm concern if I'll even break even based on the average of those shares i have purchased in TSE.

Therefore another cap raising now will just to dilute the share dividends more is not the answer imo.

They need to get their priorities right, have the right mgmt installed (which they hopefully now do) and stop blowing money on asset purchases (esp that lose them money), such as USM, Easternwell and a number of others that have not produced a return on that asset only to be written off as a loss or sold at a loss.

IMO i believe they need to focus on what they have, improve their processes and leverage on what they currently own and manage, keep those existing customers happy so they keep returning and just pay down the debt to a manageable level.

Hopefully they are on that path, TSE needs to stick with what they know and stop buying into what they don't know just to try and get access to new markets they have no experience in.

As an example for the money they paid for Easternwell (Drilling) which was $575 mil, imo i believe it would have been cheaper for them to setup their own drilling division within TSE with their own rigs brand new and hired the staff, they had mining maintenance experience, access to mining customers from their maintenance contracts, but did not drilling \ exploration experience, as it was they bought the company goodwill (Easternwell) and what existing aged equipment and staff, customers and any existing contracts which in the end didn't produce a sufficient enough return in the last 4 years for the money they paid and therefore wrote down Easternwell's value some time ago.

So for a cap raising just to pay down debt i wouldn't be buying into, and I'd be equally upset that the share return will become even more diluted that the share price IMO would never return to those levels some of us want it to return to in order to either break even or minimalise our losses.