This doesn't make sense. NMDC own about 92% or so of LCY so majority of capital raise funds will come from their own pocket and no other large cornerstone investor or from the small amount of retail investors.
Why would they wait for a higher SP to then buy shares at a higher price than what they are going to get it from this lower raise price.
They won't care about a share price rise much as they won't sell shares due to the majority holding and using LCY as their australian investment vehicle which possibly helps with abiding by foreign investment rulings.
HAW Price at posting:
7.7¢ Sentiment: None Disclosure: Not Held
