Hi Glyp, perhaps the underlying issue is not the size of the CR or the exclusion of RIs but WHY the need to raise funds for operational costs again after it was said funding was supposed to be adequate for the foreseeable future.
The cause is also not helped by Mercer dumping a small portion of their holdings and depressing the sp.
Sp momentum needs to come from parties buying on market, (at least then raising at a far higher sp) not parties waiting on the sidelines for cheap placements/CRs. This latest flush of funds will not even cover one quarter of operational costs. Future funding from where?, are they now funded to end of year?, without counting on the conversion of the $8 options. Or from left field a inked up deal in the next seven months.
IMO, not advice.
Ann: Capital Raise, page-21
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