The entitlement closes tues and the agm is on wed. With regard to placement, 4.2b Shares issued no later than 3 months after the date of agm ........and it is intended that allotment will occur on the same date.
So they underwrite and also make a placement of upto 100m shares and 100m options with 20m shares and options to directors on wed. Probably at 1.3 with free option at 1.5
Don't worry about the gold,it's corunna downs. With about 600m shares(undiluted) and over $3m if all taken up they will be a cheap iron ore play with market cap under $10m.
GDA Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
