As the dust settles...3 Jun 2020 11:04
I will be watching to see if frequent large round figure offloads seem to be happening again. In the past we do seem to have been burdened with overhangs from previous deals that have opened the way to persistent large offloads. Regardless of the new dilution being 10% or 15% or 20%... the decimal points or the odd 1 or 2 percentage points are irrelevant here. What matters is that we have opened the way again for a hefty enough amount to put a long term drag on the SP. There are more shares potentially to be offloaded from Zambia too unless they have already been dumped. For me it is all about the SP regardless of how clever the deal is to mining geeks. Copper, Gold or Baked Bean tins... it makes no difference to me. So my message to Bird is simply remember your promise to deliver shareholder value. That will only be seen to have been done with a rerate of the SP.