This is a disaster for long term holders who can't afford to average down. The previous two cap raises were at 15c (2020) and 50c (2019) raising around $140 million. Now the market cap is $61 million!
This looks good for new entrants assuming they did their homework well this time
Ann: FIRM COMMITMENTS FOR A$22M PLACEMENT AND DEBT RESTRUCTURE, page-40
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Mkt cap ! $2.499M | |||
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