Ann: First Quarter Cashflow Report, page-3

Hi mate,

We just raised $5M odd this month (so after the SEP quarter).
Raise was at 0.01, so I’m still buying at 0.009.
As part of the raise, MGTOD also available (strike price 5c).


Cash is fine for now and PFS is pushing ahead.

Sell down could be partially due to upcoming election, but appears mostly due to people interpreting the last ann as a negative.

I interpreted it as MGT management realising that we no longer needed to flog a huge chunk of the project for pennies, after a successful raise (and IO strengthening).


All IMO.

Cheyne