Its simple really - good story poorly told - raising 10% at $2.3x was maybe smart - but I would be confident that many of the sellers were those new 10% shareholders - we are seeing a squeeze - a vast overeaction - but quite logical and rational from various investor perspectives.
With the dilution, I suspect the price could go below $1.50 before we see a recovery - which hopefully will be rapid and strong.
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hardman resources limited
throwing in the towel, page-9
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