Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:Like Diamonds - PGD is a story of survival and growth

[mill44]

Again, when looking at the effect of a rights offering, you have to look at all the shareholders and not just part of them to see if it is dilutive or fair. A rights offering is not dilutive if you can sell your rights to compensate for the drop in % of ownership if you cannot or decide not to exercise. That was not the case with PGD. It was dilutive for all non-US shareholders and anyone who did not want to invest more money. And if we look at the number of shares and market value, the effect is obvious, too.
Even if we don't take in consideration the effect of 300M of shares at 10c (to date), the math says something. If you started out with 1000 shares at 40c before the second rights offering, 400$ investment, you would have invested another 210$ for an additional 1000 shares the first time, then 50$ for 500 shares the second time and 75.7$ for 757 shares at tthe last offering. That is 735.7$ invested in 3257 shares for .226$/sh. If you take in consideration how much the project gained in value since 2014, it is hard to explain a 6c or 25% loss. That is with almost 50M invested in the project.
If you want to tell people that Cudjo is selling them cr@p by talking about dilution and how the rights have been bad for investors, you might need more than the definition of dilution.