eye opener
DJ, that post really opened my eyes. I figured the cash raise Titan was trying to do, had really significant headwinds - I'd love to know what the brokers in Australia are mainly thinking are the problems. But I always figured it was about raising less $, given that one page in the Circular - that all the significant promises can be waived, excused away and erased. But I never thought of an adjustment of the price, which shows my lack of imagination. So what if it's now 1.6 or 1.7 cents, i.e. dropping even below the 2 cents when Titan got halted. Wonder if the shareholders voting "Yes" would be equally happy at those kind of prices as at the 2.4 cents promised - how does that change the meaning, and how has the way the price has been touted affected the voting? Do the creditors care about the price, or just dilution at any price, doesn't matter? Maybe if they have no shares, it wouldn't matter, except for less control, more dilution away, and what a particular share rise price implies. Pretty different from the Zhao Jin offer sounds, at high prices plus the cash and development too. I know that people can change their votes by just voting again - which I hadn't known before all this - you can vote again, and only the last vote counts. Probably votes have moved both ways up until now. How long is Titan halted - til next week, or does that go on, and how does that affect voting now, vs. with all the hype. Dunno. I heard that it wasn't Titan that actually called the Halt, which confuses me even more. If it's to do with the Peru problems Titan has, what are the liabilities there? Could be even more than all of Titan's share capital, if it's really big, and then how would Titan look to the people who control mining if they try operating Core? I read as much as I could through the huge Circular, and Titan's operations don't seem to match up much with their other recent documents, as to what they have, what ore was processed, and what issues they're in the middle of. I need someone from business school to explain it all the mismatches to me.