Once upon a time

In May 2020, I inquired with Leigh Junk about the issue price (30 cts) of the capital increase, and here is his answer:

"I agree with you, I was also a bit surprised on how much I had to do upon taking on the role to get the company back on track, it was very different to what I expected. But the company is now in much better shape after recalculating a more robust estimate of the resources and reserves, making a tough decision on the future of Westralia underground, creating a solid mine plan and raising equity to fund it.
I along with you was disappointed with the 30c issue price at the time, but the truth is it was looking like much lower than that and we actually got it up to 30c which was better than it could have been. The reality is that we had no choice on timing to complete the equity raise. We had a large debt repayment we could not meet, had little available cash in the bank and were close to running out so the equity raise could not have been delayed any longer, even by a week. It was unfortunate timing for us that this was right during COVID-19 when the markets were seeing unprecedented levels of volatility and cash withdrawing from the equity markets and the appetite for a recapitalisation was extremely low. So to achieve the result of raising the required funds to save the company was a great result even if we had to take a higher level of dilution than initially intended.On the current share price, there has been a large loss of faith in the company that I am setting out to repair and this will take some time. We need to deliver into our low priced hedges until June and then we can start making some cashflow. Once this happens I am expecting our share price to trade higher, but we can’t lose sight of the current reality of the COVID-19 pandemic that is moving the market in all directions so I would ask for a little patience during this time." Leigh Junk, may 2020 !!!!

Very optimistic or very incompetent LJ...! Since then, DACIAN has diluted (twice!) the stock and is in freefall...

Even if the situation was not so simple, it must still be recognized that between the lies of Williams and the disastrous management of Junk, the shareholders of DACIAN are the black cats of the ASX and have accumulated all the bad luck possible and imaginable or rather that one would have never imagined, otherwise they would not have invested in this empty shell !!!