Mate the two previous capital raises should have been sufficient for stage 1 and have some for stage 2.
I have been on the register for 4 years, we will have another CR in mid 2022. Our majors want this to progress quickly and they don't give two hoots about retail because they are not getting smashed with dilution themselves. If they faced dilution themselves they may think twice before raising cash at these pathetic prices. The $1.00 raise is an absolute cop out on value.
I am sure with one or two good quarters and the reserve update in March next year our SP if allowed to move would have resulted in a far better outcome. The only issue is instos prefer to get cheapies, must have been a now or never type scenario with our new players on the register.
The only way now to improve position is buying on market which unfortunately many don't have the funds to do this after plowing big $$ in previous raises.
A multiyear nightmare now, the CR is not an issue for me it's the fact we keep doing them at lower prices then the previous raise which is the issue and the value destruction to non participants.
