I think you'll see the friends, family, mates of brokers (AKA "institutional and sophisticated investors") take their 20% stag profit over the next 2 weeks till we hit 15c. I wonder why it was "oversubscribed"?
When you need to raise at 25% discount, it is not a vote of confidence in the company. It is a reflection of the what the investment community think of the management and risk/reward proposition being offered.
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