Ann: Arafura launches A$20m placement and A$7m SPP, page-76

what has changed?

I expect the share-price to trade at 16c.
if that occurs (high probability) then the uptrend is broken.
with an uptrend broken we start looking for historical supports.
I am happy to pay brokerage to sell and buy my shares at the same price.
the risk is if it falls to 16c, it can very easily fall to 14.5c or 12c and lower.
Now what stops the BOD saying FID will not longer be by end of 2024 but market conditions have worsened, another banking crisis, cornerstone investors have retreated, war in europe or middle east has expanded. we need to extend the time to achieve FID.

This project was forecast to be in production at start of 2024. 2 x 30 million cap raises and it is still in the same position.
They missed big, they have a history of missing. why are you so confident things will change and they will deliver.

the last three days smells of desperation.