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Bleeding Shareholders
Tuesday, September 22, 2015 12:18
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Freeport-McMoRan Copper & Gold may sell another $1 billion in new shares.
by Kip Keen
Mine Web
Diluting majors: Cut to the straight-talk please.
These announcements of voluminous dilution in the middle of a limping mining market should come with apologies. Raw admissions of what you’ve done wrong. Not bland excuses about creating shareholder value and weak markets.
Today came another good example of lame PR work.
Freeport-McMoRan noted it had completed a $1 billion round of new-share sales and added that it might raise another $1 billion doing just that again. In describing the equity raises, Freeport stated the dilution was necessary “in the current period of weak and uncertain market conditions.”
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Source: http://financialsurvivalnetwork.com/2015/09/bleeding-shareholders/?utm_source=rss&utm_medium=rss&utm_campaign=bleeding-shareholders
