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TROY SUCKS 25% MORE, DICK AT THE HELM!
Looks like a @round@bout way of diluting to the 25% capacity. 10% + 15%
7.5 mil / 10.5 cent = @ 71 mil odd CR shares
2.7 mil /10.5 cent = @ 26 mil odd CR shares
Totals @ 100 mil odd CR shares
Total outstanding shares prior = 460 mil odd.
25% * 460 mil odd = @ 115 mil odd CR shares
leaves extra @ 15-20 mill shares to make up the discretion statement.
115 mill * 10.5 cents = @ 12 million bucks.
460 mil + 115 mil = 575 mill odd shares outstanding + Investec opts.
That seems about what they need to keep afloat this time round and is seemingly obvious, bar the magic of smoke & mirrors or accounting, has been on the masters of illusional intentions list since prior to the agm.
5.192 mil investec
2 mil Trade creditors
1.5 mil Drills
2 mil Road & Bridge
1.5+ mill Remedy & Piss up the wall etc
Operations break even
zzzz@bout 12 mill give or take a couple of guyanese jungle goonbags
12 mill or 25% dilution is the aim & staying afloat is the game.
Thats a fair whack afterall.
Given the @150,000 max share allocation figure, original scenario anyway, anyone who holds over @600,000 shares will be diluted as per program bar the second part which allows sophisticated to swoop as I understand it - thats an Investec special.
To remain undiluted the shareholder is looking at handng over 25% the value of their holding in one shape or form - appears is whats on the table.
The presentation seems a bit cagie from a few of angles and invites weighing in on the character of the entitys representatives but without specific enquiry, passive bias/pessimism or optimism, that judgement should be left reflected within these next two quarters directives.
The range of accuracy lies somewhere between opportunism to desperation with benefit of the doubt somewhere near the middle.
I personally dont think 7.5 mill(@9.5-10 mill intended) will be raised by the current holders and will revert to slims shady deals.
However, I will take up the slack of 14 other (average $1000) poor lost souls on this occasion with the realisation that likely 8 cents is on the cards real soon being the dilutive effect - obviously obvious obviously, not they say.
Kind of appears catch 22 where the shareholder is damned if e do damned if e don't - back to the grindstone.
Yes its true, this company does suck, Dick! - at the helm.
Many helms prior to this to evidently
Go Gold