Ann: $21 million capital raising to underpin exploration, page-124

The real question is when and at which point a stock becomes a good buy. What yardstick does one use? Is it based on TA or FA model? When you are an explorer with no resource estimate and only a bunch of drilling results, how do you determine where the entry point is? There is nobody there with a bell ringing and telling you that is a good entry point. We are witnessing this phenomenon that just about every company that had a CR recently ended up trading bellow the CR price level? What does that tell us? That subscribers ie investors were too bullish and did not do their homework, or that the market turned against them in an unexpected way? Yet, almost every one of these CRs were at a significant discount to the prevalent market price which very often looked like being manipulated to the benefit of institutional investors to make it attractive enough for their liking with only CHN, that I am aware of, issuing shares at a premium. Does it mean that FA approach is superior to TA? At least when we are talking about explorers without the cash flow or any other means of revenue?
What I am trying to say, at least in my opinion, is that I would rather pay a cent extra than risk FOMO which is more painful than losing a cent or two short term. I suppose it is easier to the instos because it is OPM (other people's money). At any rate, if they are what they claim to be ie medium to long term investors, in that case if I were them I would not try my luck trying to squeeze the last cent in trying to get set, but load up instead ad wait patiently. Well, it comes down to their investing policy and corporate governance and board of trustees supervising their investments. Funny thing is that these guys that are supposed to watch over them are usually appointed by these very same guys that make decisions on investments. So much about conflict of interest and market integrity...