I am starting to think that there is a bit of back scratching...

I am starting to think that there is a bit of back scratching going on here. Having a major shareholder that mgmt can lean on whenever needed is hugely advantageous, they even stated it months ago. Something along the lines of - we have no problem raising funds when we need. So it would make no sense for them to market the company as AU mining want cheap shares. And then mgmt might not care about a high share price as they get funding whenever they need and they continue to get more performance shares at SP lows. Both parties with so much invested would unlikely care about short term lows and only care about 5 to 10 years potentially. And execution of the strategy. Plus there is the ex CEO selling.

@spid81 - nice theory on AU mining. I hadnt thought of that. I just cant make sense of all the nonsense on these threads. And another interesting view on the potentially poor quarterly coming up. I think it points to some of these issues and fixing of long term issues and actually making substantial progress takes a lot longer than mgmt communicate. I dont think this is any different to most small caps though.

I do have one problem with this CR. And that is it says $4.3m of the CR will be used for the Graphite anode pilot plant. BUT... the critical minerals grant they are expecting to finalise in Oct is for a graphite anode plant for Munglinup and DFS. The CR funds will also allow the processing of Skaland graphite but that doesnt explain what looks to be a big double dipping of funds. I would like the company to explain this.

My conviction in the company still remains strong. Good they have significant money now to fund the strategy. Hopefully the selling pressure stops within the next year (I think it could last a while yet). I will not be participating in this CR. I want to see the company deliver on some items in this strategy and if I want to invest more and it is at a higher SP then I am fine with that.

I got lucky with EGR, as I got in about 6 months before the great rise a while back. I see some similarities to that but I think I might be in a lot earlier and might need to go through some pain over the next 1+ year or so. I think this company will see significant gains but there are a lot of head winds at the moment. 1 - the market environment including bear market, inflation, potential recession, significant gas and oil issues. 2 - selling pressure and we are all guessing when that will end. 3 - a lot of different streams of work that the company has highlighted and is working on. I see this as a short term risk as that is a lot for the company to deliver. I hope they dont become a jack of all trades and a master of none. I dont think this will happen but it is more likely to effect how quickly they can deliver the value of each item as they have too much going on. Good example is MCC and the material progress that was expected in Q3. I hope they at least update us in the quarterly. Just focus on a couple of important projects and nail them.