Remember, they still need money in the bank for ASX obligations. And how do they keep the pipeline running when there is nothing spare left?
The only way CHM can build shareholder wealth is to progress the pipeline. When that stops, so does your investment. We were already in suspension once last year. Never a good look. I am glad Dr. Bec has prevented that from happening again.
The share holder raise added $1 million of the required $3million to the kitty. That means only 1/3 of the available oppies at .008c were issued, which is a further 2/3 under funding if/when they were exercised. This CR has now plugged that hole. The share price was .008c for 5hrs of trade. One shareholder slept through it after a night shift, remember? It has been consistently around .005c with blips to .004c and .006c. So the .004c is really discounted from .005c.
The share price was never going to run, apart from some initial FOMO with the bank balance CHM had. There is every chance another suspension would have been required. None of your oppies could have been converted then. You can not count on oppie funds until after the expiration date. Hoping it happens earlier isn't sound financial management.
Your concerns about governance are not the root cause of the share price decline. As I have been saying for a very long time, financials were. CHM was living quarter to quarter. Finally, that is now behind us. If we get good news, we have enough funding for it to run. We have enough funding to progress the Cd17 trial at a faster pace. CHM is in the best condition it has been in for many years. And Dr Bec did that. Her convincing a family office to give $4 million in non dilutive funding, and then another $1.6 million in this CR may have set in motion the circumstance that no further CRs are required. That being if we get enough data for a partnership. Without her finding that funding CHM would not be trading now.
Now we just need to wait.
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