Ann: Decmil Investor Presentation - RCPS, page-10

Absolutely I wish I'd sold at 25c but as you say that's a past decision and we're in the present.

Since then they've appreciably improved business performance but there are also a few negatives:
1. Back then there was a reasonable prospect of a HomeGround sale, doesn't seem imminent now.
2. Performance has improved but we may be nearing the end of the best market conditions for these guys.

The combination of 1 and 2 could have (best case) avoided a raising in the basement. Any recovery might now be longer and more protracted (also not as lucrative given rough doubling of shares on issue). The narrative has also changed back to "bigger projects" etc etc. so it's still not without risk.

And 3, there are plenty more options available where the share prices of lower risk businesses have been hammered.

You say anchoring bias but objectively I look at this and wonder at the wisdom of putting more capital into what is still a relatively speculative opportunity. Give or take they're raising a mere $20m+ but potentially doubling the shares on issue! Its not like they're out of the woods. Is this an opportunity as you say or a last resort?

Bottom line, if I do participate it'll probably only be to arbitrage part of my existing holding into the raising to keep a similar (small) overall exposure and I expect I won't be the only one.

Lastly, if you want to continue to exchange views can you please refrain with the verballing "scary etc." based on a confected interpretation of my wording (the shares are converted at 20c). You know very well what you're doing and it's tiresome.