Nils, it's not just about the cash it's also what they plan to do with it. The request to dilute under the terms of "General reason's" means that they can just continue with out communication, obligation or commitment. In terms of being at the bottom of the curve we have said this many of times yet the dilution continues at a faster rate and with bigger discounts. The last year has seen about 75% dilution. Now they want to continue to dilute further with reason. The last dilution was equal to their yearly Administration costs (wages), because they are paying themselves top end wages and bonus shares for a company that has no income, no cash reserves, no feasible asset, whilst trying to run two exploration projects. To answer your questions directly. More dilution to no money in the bank, to pay for more inactive management wages, due to no income and no delivery of a feasible asset which prevents them from taking loans or financial vehicles. Any new cash is a sign of confidence, well they clearly recognised their own poor performance which is why they discounted so heavily last time and ruined existing shareholder value. The brokers made 250k the Company gained 350K the existing share holders saw their holding dilute by 29% and the new shareholders have seen their holding drop 40% in just a couple of weeks. I don't know what they were told about the company, but it certainly wasn't it's history or current performance. Confidence no, gullible possibly, unprofessional definitely. Also if I may a word of advice "selling at an alltime low isnt an option to me.... and i know how it feels :(" is the reason and attitude why so many are still, have lost so much and will probably lose their entire investment.
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