Ann: $12m Capital Raising to Advance Lake Wells SOP Project, page-15

I’m sure the board would be able to counter all the points you raise, after all they to have skin in the game. If progress for the project was delayed because funding was delayed then I could see the share price falling further and sentiment turning negative making a raise at a latter date perhaps off a lower share price. They need the cash now. The board can’t be held responsible for the external market sentiment at the time of a raise or predicting that recent events in the sector would transpire to the extent they have, from the sidelines the magnitude of the SO4 flop is not that common..how on earth could the board have factored such an event in, sometimes you just have to play the hand you’re dealt. In the long run it is better for APC to get the cash in and keep the momentum. If the institutions aren’t attracted in at the right price then what chance of raising all that funding from shareholders, wouldn’t those same shareholders then be sceptical, be thinking that if the instos aren’t giving it the thumbs up should I be diving in?
There isn’t a special class of shareholders conferred special rights for being long serving and loyal, whatever that means, I think that’s why they’re called ordinary shares. It’s a risky game in this end of the market and new sector, but the beauty of the market is you can sell today and put your capital into what is perceived a better investment tomorrow, keep the emotion at bay, not always easy, think of it this way you’re deemed ordinary and the company/board have no feelings toward you, with that in mind it’s so much easier to break up and move on.
The market is quite the reflection of life, not prefect and always changing, some days are great some days not so good, you can move on at any time.