I should add I don’t know who it was but my opinion would be a party who wanted to invest so ensured the price remained low. The last part of the PFS states their near term goal was funding through to DFS
Speculatively it could have been a competitor or related party blocking momentum. Unfortunately their actions over the past few years makes this plausible.
Or it was Mick, or the Chinese or completely normal
Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-44
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