As an investor and trader who has been doing this for over 30 years ....I'm going to both agree and disagree with what you've just stated. Before I do , I would just like to say that you obviously didn't know what the figures were as you obviously would have posted them here I would have thought given you are here now.......So :-
On the one hand , yes I agree that the project can only be ' de-risked ' when more certainty evolves around the funding proposals - and of which I believe I have stated myself in a number of my posts previous posts.
On the flip side , I'm going to disagree with you on the same point because of the fact that at this end of the market , and in many many similar cases , it is the probabilities surrounding the ' speculation ' of events occurring which will often drive the SP.
These revised figures are nothing short of exceptional and therefore should be viewed within the ' price discovery ' mechanism's of the market as being an initial ' catalyst ' towards the re-rate which will unfold. A first step if you like. Now the mere fact that this has already occurred over the 3 days of heavy volume leading into the TH ......together with the fact a few like yourself have all of a sudden appeared for the first time out of the woodwork....and others who are stating most likely BS on being top 10 who are now a ' Net Seller ' ....and those who shall not be named who not that long ago stated they would be first out with their millions of shares when it hits 1 cent. All of this brings me back to my analysis posted here not that long agon in regards to the ' Dissatisfied ' holders who obviously voted against and were reflected in the AGM resolutions figures. To recap , they were as high as 50 million who voted against.
So people , I am not surprised to see them jump back in to finally have the floor to express their disappointments from being Long this stock. .
Doesn't take away or change the fundamentals on this project or the pure market dynamics surrounding the timing of the Option conversion of both the OB's and OC's......and the fact that this announcement was in part to set this up.
However I am surprised that someone who was ramping up and talking very bullish in regards their OB's .....and now claiming they are selling their Top 10 holdings because of a short term aberration which is clearly being driven from the washout of long holders who still want off as well as some of the residual placement shares in the last raise who may be taking profits is quite astonishing.
These somewhat negative posts out of left field simply confirm to me what I had already worked out previously. The trade is still there though and will simply take a smidgen more time IMO. So let them get off I say , however I wouldn't sell a cracker of your holdings......and I make no apologies for being one of the so called ' Fan ' clubs as I am a trader and Investor who has done this and still does for a living so am not making apologies for posting accurate figures and assessments on my current positions. All of you would and are doing the same thing.
(20min delay)