Still really not sure why a massively value destroying raise for $20 million was needed just for an "FID" on Dubbo.
I will hazard a guess that the individuals and/or groups involved in the complaint to ASX Aware were also behind the completely value destroying CR.
Remember this...
The discount from the VWAP was ludicrous and it destroyed the momentum that was building.
Management have appeased the shorts in my opinion, who lodged the complaint.
You are right, the whole FID raise was nonsense. We had money to take care of our FEED requirements, and to therefore allow the momentum in share price to keep going but management chose to shit on that. FID raise could easily have happened in 6 months.
I have an opinion on connections, but I will keep that to myself. Needless to say, someone is benefiting from the lower share price, much to the gratitude of management.
It is as clear as day what happened. Rowena needs to ink those offtakes as any descent effort that was involved in the EXIM letter of intent is now water under the bridge.
ASM Price at posting:
82.5¢ Sentiment: Buy Disclosure: Held
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