I am a big fan of the dilution for the money raised (as long as its used wisely). It is a requirement to have funds for the exploration and it is encouraging that institutions and directors have put in.
That said WMT are not contributing. They have paid US$2M for 40% of the rewards and have an option to fund another US$2M for a further 20%. I assume they will take this up.
Hence WMT are probably very pleased the minority father company has raised funds to pay for exploration on a field they have a 60% share of. Thats life and URA had to take farm in partners before the samples were taken and hence quality know. Shame it will prove to be at such a great expense (all things working out) but at the time beggers blah blah.
40% of the field, diluted a further 40% is still a multi multi bagger for anyone in under 10p if they find tonnes of the high grade stuff.
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