I recently asked AB about the timing of the raise as too be honest I was completely blindsided by the timing being they still had a fair chunk of change in the bank account.
AB's response: WA8 wanted to raise during a period of heightened interest in the company (several fund managers and soph investors were lining up to purchase large blocks), this level of interest is not typically reflected in the junior sector, many fellow explorers recently have needed to offer big discounts, attached OTM options and SPP to raise required capital. WA8 wanted to beat the Diggers and Dealers August/September rush for capital. WA8 wanted to continue strong drilling momentum and fast track the MRE updates for several deposits. WA8 now feel as if they should have enough capital to see them through till at least the March Q next year.
Any sell down IMHO should be arbitrage based and short lived.
