People here often counter with the argument that you need money to make money as a justification for the capital raises. It's a weak argument because it all depends on price.
By way of example, here's how CVN has raised money over the years:
- 20 November 2013 $12m at 6.4c
- 11 May 2018 $20m at 13c
- 14 Feb 2019 $50m at 33c
- 25 July 2019 - $79m at 39c
They raise more money at higher and higher prices. CVN's market cap is double FAR with a fraction of shares on issue.
Shareholders stymied, page-20
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