RE:RE:reality
NF, I am still in shock with your negative post on TKO. Is this possible? Seriously, I hate pp's as they are a blight on the industry, not at the core, but the way they are done. If they made a small modification to how pp's are done it would eliminate much of the inherent problem with them. If they need funds for a pp, then require that existing owners (shareholders), get first dibs on any pp up to the number of shares they held at the time of the pp announcement. As for the current pp, 20% discount to market, existing producer, existing cash flow, 77m in the bank, and they sell off 20% of the company which had a npv over 5b, for 30m? It is little wonder that the market does not take the mining industry seriously. That 20% dilution was not offered to the owners of the company, but unknown outsiders. Pathetic.