No I do not think that they are intentionally doing it to make a further gain. To me, the funding plan has always been for the new members of the board and their mates to fund the expansion. They saw the opportunity of OBJ and have carefully planned where the company needs to go and how it is going to get there.
For them they already know a CR will not work as is evident from the last one. Current holders want them with skin in the game. They are not issuing themselves shares for everything they achieve like in the past yet will want reward for the massive effort they are putting in. So this is a win win for all
The current approach of holding info until it is ready has made for little information flow. Current holders are nervous and as you can see from the last 12 months as the sell down has continued. The top 20 holders look quite different as they hit the exit.
I suspect this information flow or lack of it to continue and I also expect that current holders to continue to get frustrated and lighten their holdings. There is no incentive to purchase unless you believe in the potential plan like I do.
As for timing of release and action on funding, they have a plan and it is unfolding, the company does not need cash yet so they do not need to act. When the next stage is ready they will act. There is no other motivation than that.
OBJ Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
(20min delay)