Resolution 1 gives the directors the ability to issue a further 11.4m shares without consulting shareholders . Without this resolution they would not be able to make this issue before December. In the light of resolution 3, which enables a FURTHER 11m shares to be issued immediately, how do you interpret their motives ? Come on Kermit, surely you didn't come down in the last shower. As I have previously said , the mere posssibilty of the issue of a further 22.4m shares at 60 cents (laced with justifiable suspicion about the directors motives) is enough to put any sensible investor off and that is what we are seeing in the current SP (Which should be over $1.00 based on normal fundamentals).
TRF Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
