My point is that there is no reason they could not have waited an extra 1-2 months to let the expected news flow run its course, that is 37m used in a quarter.
I understand your outlook on the company, but even putting that aside can you seriously tell me they couldn't wait until after the expected price catalysts? It's not like CR's are a one time offer that you will never be able to receive again.
The urgency of the cash burn does not warrant undergoing a CR before news flow that is imminent IMO - unless perhaps you were doing some people a favour.. Look at even the dirty end of specs for example, they almost ALWAYS release drill results or announcements before going into a CR.
Ann: Trading Halt, page-116
Add SYA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
3.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $391.1M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 750 | 4.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.3¢ | 34054 | 1 |
View Market Depth
| Last trade - 11.19am 19/11/2024 (20 minute delay) ? |
| SYA (ASX) Chart |
Day chart unavailable