The bounce happened this morning after the initial sell off. Now...

The bounce happened this morning after the initial sell off. Now the slow bleed will begin until the board can stabilise the patient.

This is why my position has changed:

Last year they pulled everyone into a technical meeting to discuss what they had and to agree on a path forward. They had something to work with and there was confidence that an etch solution would be developed. There was enough information that needed to be kept under wraps to justify an extended suspension as the information was workshopped and a path forward discussed. That is why I stayed the course.

This time, they announced that PL3 was a duster immediately, made the CEO redundant and deferred all board payments for 3 months, which they MAY pay for in shares. (assuming the shares will be worth being paid in) They don't even know what the problem is yet, let alone a methodology to develop a solution. If they did, we'd all be having flashbacks to last year and the company would still be suspended from trading.

They can't raise capital because they haven't got a plan to sell.

If they find investors to front cash, they are going to want a discount on today's price, which will depress the price further.

I've booked the loss, no point holding on for a CGT discount imo. There's other places I can park the rest with a better chance of success.