I think there is no need to insult anyone here. Most of Bernanke's points are valid, particularly the one about poor communications. I have pointed to the same issue several times in the past. The communications plan seems very hit and miss and is in dire need of improvement. Shareholders have a right to know what's going on and what is being planned with at least some degree of accuracy.
In my view, the dilution to raise more money is disappointing but, as was already mentioned, not altogether unexpected as a result of the low return from the last one.
What bothers me more is that there seems to be some uncertainty in how much gold has been poured already and how much it has cost to produce it. It seems to me that we were told some time ago that once Metanor starts pouring gold, share dilution would be minimized.
Somehow, I expected better from management.