Ann: Invictus Energy Entitlement Rights Offer Opens, page-25

@Gharp ... "Investing should be stripped of emotion and it makes no sense to pay more for something then you have to."

Believing in a project is not falling in love with the company. On these threads you can see punters that fall in love with companies because they are invested in it all the time. There are some penny dreadfuls when the SP has done nothing but go down for the last decade, found nothing, yet existing shareholders talk it up all the time.

Invictus has a discovery of gas under it's belt and control of the entire basin. It is very likely there is many billions of dollars worth of gas, which will be highly profitable for the owners, over time. If Mk2 had been a dud, I would have taken the loss and gone..

The thinking that it's better for yourself to buy for 10c as it's cheaper, is certainly the correct call most of the time. However if everyone does that, then you should expect a 9c SP because of the failed cap raise and further dilution to those eager and waiting to take cheaper shares.

Yet everyone is much better off, if most take up the offer. There wouldn't be shares available to those waiting for cheaper shares.

I agree, it's the prisoners dilemma, what will everyone else do?? Strangely, every time I have bought into a cap raise where the SP is below the raise price, it's worked out very well... The proviso being a good/great project, as in a very valuable resource!!

What tends to happen is people wait for the cheaper price post cap raise failure, then wait for 8c when the SP goes down to 9 or whatever. If it gets to 8, they wait until 7 is hit. Inevitably, on good projects, some announcement comes along about 'something' that gives the SP a boost of a few cents, so those waiting keep waiting for the pullback, that doesn't come until much higher. Going back a decade or 2, I use to do that.

Now I just support the company if the project is good, no matter what the SP during the raise. I've ended up with more shares at low prices by doing this, instead of the old waiting for things to settle before adding more, which meant I mostly missed buying 'near' the bottom.