Very good update on a number of projects which has been well overdue. Still dirty on that massive cap raise discount though. 7.5 mil won't last long they way they burn through money. Also feel like for that amount raised they would have been better off using the ATM facility, especially given the very obvious outcome being the SP sinking.
The report also outlines they intend to keep afloat over the next year or so with the ATM facility and more cap raises to come. Will the next 'sophisticated investor' also expect a whopper of a discount? If so then no doubt the SP will cop another huge whack just when we start to make some some positive ground again.
Honestly, I have tremendous faith in this product but less in the team at the moment.
I'll admit though, the research some of you have done does point to a bright future and I am more than happy to eat humble pie if the Hong Kong investors actually lead to something tangible.
CPV Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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