As much as would have liked to roll the dice on the US results, I do understand this CR. It really was only a matter of time, but I thought it would come next qtr.
Everyone here can speculate as much as they want, but at the moment, the company does not know what the outcome of the US trials will be.
The board is ensuring they have sufficient capital IF things are good, bad or indifferent. They may also be pandering to heavyweights like Fidelity, who have stuck by RAP management and supported the sp in times of weakness. I don't think us retail holders will get a chance to participate in this raise, there isn't enough time. And let's be honest, we've had more than enough chances to add to our positions.
Just remember this guys, in the April 2016 CR (62.5m shares to raise 12.5m) the sp dropped back to the issue price of 0.20 and people here were livid, however, 5 weeks later we were at 0.40 and all was forgotten.
The key for me will be, what is the issue price? What conditions/restrictions will be placed on new shares? Who will they be issued to? And what will the funds be used for?
GLTA
RAP Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
