Ann: Launch of $70M Entitlement Offer, page-40

Typically retail do what retail does best, sells and runs while institutions buy. A cap raise before the AGM is 100 percent a retail scare tactic and clear out of retail voting power in prep for the AGM. Delta hardly needs a Cap raise at all. Where's the supply deficit to justify a bum rush to production. Joe lowry might be on point about inventory drying up in China but still, demand isn't high enough yet. An accelerated CR and dilution is beyond obvious at this point. I don't like our chances but i'm praying waratah and idemitsu hang on with retail until the AGM to shove their resolutions you know where.
CE wants delta, and he's happy to take a dump on waratah & idemitsu so he's got leverage on sale price post processing. Ce wants what he cant yet get, influence on the spot price by selling directly to battery manufacturers. Big Chris is taking on China and wants his friends help.