I did bring up after the AGM that the extra 10% voted for for any future CR in this next 12 months had to be voted on at the AGM otherwise to raise more they would have had to call an EGM to get it passed..
Being prepared to raise at low levels needs lots more shares to get to an amount that will be servicable to the company, even at max raisings the company can only raise arounf $5m before they max out their allocation before asking the share holders for more...
That i think is sensible, having the capacity to raise good cash if and when needed....I think it is when NOT if is the case...
Looking ahead, the sooner the engineering run starts the better for ALL, if it is the back end of q3 then again we are in for a good wait and SP appreciation will be a tough gig, the Dr knows we need to raise the price up because the higher the SP the lower the dilution and the more he can raise, this MUST be a priority in the discussions in the board room imho..
DX-3 is the cash cow, it can be widely more commercial than Dx1 and again in the board room these discussions on how to bring it back to production must be high on the list otherwise no collaberations/jv's/partnerships/deals will eventuate and CR's will just keep on coming...
The next 3-6 months ahead....(possibly)
Engineering run actual date given, start the E.R.,
CR hopefully around 1.2c
DX-3 back on line and engineering run timescales given,
All the hype to market on how the trials will proceed(how many patients, where it will be held ect, this will be the buzz talk to the markey)
I cannot see how the Dr can NOT do a CR before the engineering run has finished, yes it will be heavy dilution but if the ER is a succsses most will not care, if it fails again then at least PAB will have cash in the bank to have another go(God forbid)
Near 6yr lows tells its own story, lets hope the next 6months can help re-write the path PAB are on for the good of all share holders
PAB Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
(20min delay)