i take your point and yes, i would have picked up some at .021...

i take your point and yes, i would have picked up some at .021 if offered.

over the last 5 years SPPs have been the norm. the SPPs have tended to be at a pivotal point based around positive news.

perhaps i am reading to much into this and trusting them too much ?
i saw this as a very pragmatic approach to quickly getting an injection of cash . An SPP is a lot more work and takes away energy from growing the business. right now i want them to get on with growth . this is not a big raise and they did the SPP in may 2023 (albeit at 0.025 but i do think they have done everything within their control to keep the SP buoyant within the rules but obviously they cant control the market).

it is hard to see the pathway forward for BCT to cash flow positive which if correct, suggests another CR will be needed in the future. would value your thoughts on that.

Great to have you as a solid shareholder.