Could this hammering have anything to do with the 60 million...

Could this hammering have anything to do with the 60 million option to be issued at a 20% premium to IMC, which means from 10.5c to 8c and then a 20% premium on the 5 day VWAP, so the issue price sits somewhere (circa 10.5-11.5c).

From the Funding & Operations update (IMC to be issued 60 million options at 20% premium to the 5-day VWAP at the financial close of the first draw-down, with an expiry date of 5 years.)

Yes it is very scary.

@jogo.....Are you still holding or have given up to this relentless selling pressure??