The cap raise on the back of last year was equal parts 1. Beef up the balance sheet 2. Breadcrumbing SH's until the end of June to keep us entertained. I always thought issuing options with a 7 month expiry - put a ceiling on a SP. Perhaps that was not material when you were trying to entertain the SH's.
The idea was to keep us entertained while they brought back RC220 from the cold dead. Just what sort of state was the program in back in Nov 2023?
To use a Melbourne Cup analogy - perhaps RC220 was so far back in Nov 2023 heading into the straight we were never going to get into the clinic in 2024?
At least we were able to substitute The B Graders on the board with the A team, that is a win for the year. Absolute travisty RC220 was not pursued earlier as a program and we are paying for it on the back end.
Hope I can come back to this post in a couple of weeks and eat humble pie here.
RAC Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
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