No, this is part of an 'at the market placement facility' they...

No, this is part of an 'at the market placement facility' they instigated some years ago, which allows them to sell shares into the market up to a % limit. IMO, they flooded the market yesterday as they know nobody will take up the 0.07c options and are trying to raise as much capital as they can, despite saying several times on the record, that Phase II is fully funded. If they were happy to raise capital at 0.0035, they are more than happy to raise it at 0.0055. The buy side demand was there and they took it.

Whilst some may argue its best to raise early and not get caught down the track, my counter argument is that if Phase II is fully funded, and based on current known outcomes/direction, likely to be successful, then you wouldn't have an issue with going to the market for capital at that stage, and in all likelihood, would be able to raise it at a much higher price, or potentially strike a deal with a partner. If Phase II were unsuccessful, there is no need for more capital as its game over.

As a long term holder and believer in the science, its disappointing they have taken this path as it shows either a level of (financial) incompetence, disregard for their shareholders, or both. They may be great at science, but are at the opposite end of the spectrum when it comes to capital management and creating shareholder value.

IMO, the share price is going nowhere for a while.