... they tend to do a fundraise every time the share price has fallen by 50%...and then use that monies to pay themselves multi-million relocation bonuses and compensation....
...so share price has now fallen more that 50% than last funding round...and management team paid themselves c$40M in compensation.......so high time to do another raise...
.....have a look at the last two years...it started at C$21/share....4-5 funding rounds later.... the latest share price is now C$1.80/share....so 93% value destruction after raising >$300M these last two years....
....high five....that is probably why they have paid themselves performance bonuses recently.....
I think they will do another fundraise soon based on their $22M/year 'admin spending' incompetence the last two years...
....they are then going to tell shareholders end of year, when share price has halved again...that they are going to need >$300M cash equity to develop now that credit markets has frozen due to uncertainty ...so then they are going to issue c20 billion shares to make than happen...
...so then they will have the same float as Sayona...and share price will be trading also at c1.5c on ASX....
.....and then they will consolidate it to 1/150...so then all the gullible brain-dead on this forum will be glad that the share-price is back to $2/share on ASX....high-fiving each other etc.
I know of similar companies that got to financial close with less than $50M.... these guys have blown almost $300M and now have to find equity to make this project viable....after spending $22M/year on 'admin' costs....
...now imagine if they used that >$300M raised these last two years more wisely....? Preserving equity value....
BUT not their money... well now some of it is theirs....after they pocketed tens of millions through ridiculous compensation packages.... highest paid executives in the world for a company only at pre FID.... high-five....who cares about integrity....dilute shareholders 'till they kingdom come....so that they could live the multi-million dream after some shareholders lost 93% of their life-savings....
...not one of the management team invested a cent of their own money in the company... but would spend every moment they get, trying to convince other people to invest their life-savings.... share-price has collapsed by 93% and they are still not interested in investing....
....why is that?
...anyway.....
....thought I would provide my two cents for 5 minutes....while waiting to board my plane....
PMT Price at posting:
21.8¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)