IMO the way this process should work:
1. Halt
2. Trial update
3. Modest rights issue with stretch options
4. Resume trade
This assumes trial success, but the bulk of future funding arrives at a significant price differential.
Just have a look at how new entrants at CHM were shafted last Thursday after announcing their trial update and trading for less than 3 hours before announcing another funding round. Some new holders will already be down >50%.
The above process would reward existing shareholders and mitigate dilution without shafting new market participants.
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Last
17.0¢ |
Change
0.020(13.3%) |
Mkt cap ! $42.02M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 17.0¢ | 14.5¢ | $91.38K | 584.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 255000 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 191400 | 5 |
View Market Depth
| Last trade - 15.55pm 30/07/2025 (20 minute delay) ? |
| ILA (ASX) Chart |