It should hold them till the SP is higher and they can do another CR with limited dilution but more funds raised. Think if they get good news then do the next CR at 5c per share can get $1mil for around the same number of shares issued.
Smart move if it was a larger CR and more dilution would have pissed off share holders like myself who bought in at 3c
Ann: Share Placement $0.458 million-PIO.AX, page-6
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