I think there would be a few who are simply swapping out their existing shares to possibly buy them back for the rights issue, whilst crystallizing a loss (and get a free option).
There was ample opportunity for people to get out a few weeks back at higher prices, I think most are more than content to hold/buy at these levels given today’s announcement and upcoming exploration.
Great moving using the soph raise to fund immediate exploration, as I reckon the team have now increased the likelihood of a decent subscription to this rights issue exponentially.
Cheyne
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