Ann: A$100m Underwritten Institutional Placement and A$20m SPP, page-64

The announcement is full of fluff.

No exact details, same boring details before CR. This is what he presented in the other presentations - With so much fluf expect a low turnout in the retail SPP

The institutional investors will take the CR up, because most of them are closing their short positions

Notice how they have a non-underwritten component for the retail SPP - They are expecting very little participation from retail investors, coz not many believe in this guy. Moreover the Underwriters dont have to buy the extra shares (NON -underwritten)

NOTE
Surely if you are producing something you would know the expected timing of ship arrivals.

- If you go to a doctor or an accountant or a restaurant, you need to book in advance. How come this guy cant give us details on their shipping schedule

Also, Gareth and co knew about this - hence they never added any shares on their own personal account

There is no account of production, nothing - I called up the head office and asked if their mines had blown up as we had no updates - early July - well the fwits knew they were in trouble