I actually don't mind this as much as I thought I would from the leaked info on HC. 20% discount to the 5-day VWAP as at February 25th. So the raise price won't be decided for another month. Existing shareholders only can participate for a maximum $15k. Is it worth anybody trying to manipulate the share price lower to get a few extra shares for their $15k? Is it worth dumping a ~200k parcel now in the hopes you'll get it back cheaper in a month? Or is it worth large shareholders who paid much more than 5.5c supporting the SP to reduce dilution and try ensure the raise price is higher than they paid? It sounds to me like there's a lot of games being played behind the scenes and this is management's response.
Edit: Also, the current cashburn will be greatly reduced after this quarter. AVZ paid a $2m drilling invoice in November. Drilling has now ceased.
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