Huge cap-ex coming up means we have to raise funds to start that refinery and advance exploration etc.
Sorry for stating the obvious but I want to illustrate why I think the share price has been sold down.
If we raise capital by issuing shares then the lower that price is the bigger the slice of the pie some with deep pockets can buy of that very attractive refinery and cobalt operation for their money.
So it is in the interests of those wanting to make further investment toward those ends for the share price to be cheap at this stage.
For holders who aren't averaging down at this level it means increased dilution of their ownership if the next cap raise is as cheap as some appear to be pushing it to be.
FCC Price at posting:
47.5¢ Sentiment: Hold Disclosure: Held
