The poster IBTEC said it all and i can't agree more .
IMO they never realistically thought they would get many shares in the company at 0.58c and still don't.... IMO and perhaps with the unofficial approval from the board they were trying to stop the relentless shorting by MM & co giving the company valuable time to prove them selves during the ramp up stage.
These organisations are not amateurs. Im not sure that the T/O bid at 0.58c was ever expected to accumulate many shares and if it was it certainly didn't work.
It will be interesting to see if the raise there offer to a serious valuation or just enough to keep the price ticking upwards or just let it go ?
Ann: Becoming a substantial holder from MUFG, page-53
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