criminals for raising money to build their project?
No, but (morally) criminal for raising, no, *gifting* $12 million worth of shares to their mates at a 30% discount to an already beaten-down share price. Morally criminal for then treating loyal long-term shareholders with utter disdain by limiting the SPP to only $2 million. They're literally transferring shareholder wealth to their mates. Shameful. This share was around 19 cents a year ago, and now 83% of new 8c shares are going to instos who will simply flip it at 9 cents or less, while shareholders get a measly 17% of the total raise. To me it is sheer ineptitude to raise such a large amount so soon after the release of multiple bad news events that have temporarily soured sentiment in the sector. Do they really need $14 million, and do they need it now?
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