Ann: Company Update & Future Outlook, page-34

If you look at the last quarterly, they invested cash into expansion. I am betting this quarterly will be the same. They comfortably ramped up production to 30kt per quarter without requiring external cash. I think they can increase to 40-45 kt without external cash.Why would they want to do CR at lower prices and dilute themselves if they can simply choose not to expand. Most dilution events happen when liquidity is required not to fold. This company makes money, it can just sit and wait, for example until completion of half-yearly accounts, for bank debt.

Bizzare what's going on with share price. Probably some shareholders experiencing liquidity event and requiring to sell.