IKN

a plague o both your houses

Mining PRs and the Ottotrans™, Part 94

 

Our occasional series is back, the one in which we take the gobbledygook written by mining companies in their news releases and put it into something we mortals can understand. This time the focus is on Lydian International (LYD.to) and its NR out just a few minutes ago on this pleasant Wednesday morning, but today we’re running a variation of the normal series format because…
We only need to put the NR headline through Ottotrans™
…so here we go.

This is what they wrote (in the headline):
“Lydian Shareholders Overwhelmingly Approve $80 Million Private Placements”
And this is what it means:
“Lydian Shareholders Overwhelmingly Approve the financing deal that snatched away all the blue sky upside from shareholders at its Amulsar project just weeks before the gold miner market turned from bear to bull and handed hundreds of millions of dollars of money that should have gone to the company backers as reward for their patience and loyalty to a bunch of suits who got lucky with timing because the people running LYD are dumbasses and by the time the deal was done the original backers didn’t stand a chance of making any meaningful protest because they’d been diluted out.”

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