At the copper price lows of $1.97, making losses and carrying...

At the copper price lows of $1.97, making losses and carrying debt, the other side of the coin is that it could've been bankrupt within months too if they didn't raise and buy Cracow. Ask oneself this, if they had to do a CR, with copper at $1.97, making a loss and carrying debt, would anyone participate just to keep Aeris going a bit longer for the sake of going and continuing to make losses? Maybe yes, but you only had to look at the CR that even at 3c and a hope of diversifying our income stream, heaps of retailers didn't even take up their entitlement. The instos mopped up the shortfall.

If Aeris had to raise to stave off bankruptcy, I bet the instos would've extracted an even larger discount and probably attaching free options too for underwriting any CR. They would've wanted their pound of flesh coz Aeris would've been desperate.

We can always look back with the benefit of hindsight but undeniably buying Cracow bought them cash flows and profits and more importantly time while they waited for copper to recover. Stop looking back at what could've been and look forward to where we are going and where we will be; at current prices, making money and LOTS OF IT for a change rather than running off the fumes of an oily rag.