Ann: Heavily Oversubscribed Capital Raise, page-11

I had this theory few days ago about this massive decline. I was thinking after the news came out it was evident that funds were needed to continue exploration. If that was obvious then those high net worth investors would have invested in CCZ prior and had substantial holdings already at least a couple months back. Not so big that it would be reported to the asx because that would cause some movement in the share price. So when they announced the cangai mine JORC, apart from the people locking in their profits there was this other element which further brought the share price down to 3.5 cents. Im guessing they place heavy selling pressure below 4.0 cents knowing that CCZ would need to raise capital. In short they would have gotten the share at a cheaper price at 3.2 cents. Instead of around 4.0 cents