I think we have to give Wally and the Board a bit more leeway on the scheme of arrangement and SPP. There was always going to be a significant equity raise. The fact that it was done at a premium not a discount is good in my opinion. Wally has always stated that he wants to dilute existing shareholders as little as possible. You would have to think (hope) they are close to wrapping up the financing.
Perhaps I am being naiive, but the SPP could be a way to give the smaller shareholders an opportunity to make a bit more money. It is capped at AUD 15k and only open to Aussie / NZ investors.
Listing in Toronto makes perfect sense. It is a Canadian gold play and likely to get a lot more interest from Canadian investors than Aussie ones. I'm happy to trade a bit of admin for a higher share price.
I don't agree with the "gun to your head" way they announced this. I would have liked for them to put the value proposition to shareholders and let them vote on it without a significant financial impediment if they voted "no"
The company has been pretty quiet. It would be nice to hear something from them as well as from Steven Dean, Chairman of Spur about their plans. Perhaps a joint interview on BRR or something similar
ATV Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
