100% misleading re the raise, but best to get it out of the way at 10c vs the 7c some deadset, dumb or agenda-ridden kooks were spruiking.
But beyond that, appears to be a fair bit of unwarranted negativity here. SP was always going to bash through raise price, like 98% of all stocks do.
They did incredibly well securing (oversubscribed) $5.6M - decent raise in a crap macro environment and a fair crack relative to our market cap. More indicative of the confidence in West Arunta (I've held WA1 since $1.12 - Mustwin, you were a deadset pest there and proven wrong beyond measure, and you need to chill here) vs the good old cliched 'looking after their mates' narrative that invariably sneaks in on the pull-backs.
Oh and that mates thing just doesn't work when we're trading under raise price. So if you're smart and have half a clue of what you've invested in, you'd be buying up, confident that this churn needed to happen. And was always going to.
Loved the volume under 10c today - highest volume in 10 trading days.
Lovely flush of loose supply IMO. Perfect set up to push higher.
Might see a couple more back-tests, but I reckon we're done here...or very very close.
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