Interesting that you bring up BIO, the lead manager from the SUV...

Interesting that you bring up BIO, the lead manager from the SUV raise is also involved in this stock. BIO has gone from 10c to 30c over the past 12 or so months. This is from Canary Capitals research report which was published via Suvo's investorhub.

Canary Capital conducted a Discounted Cash Flow (DCF) Valuation for SUV, resulting in an Enterprise Value of $116.1 million and an intrinsic value per share of $0.119.

This valuation suggests a potential upside of around 285% from the current share price of $0.031. It's crucial to emphasize that this valuation conservatively assesses the value of SUV's foundational kaolin business, without factoring in the substantial upside which could be generated from the geopolymer concrete opportunity.

Canary look like the type of mob who consider opportunities that have a potential for a 10 x not something that may go from 3c to 6c or 8c or even 10c. They saw the opportunity in BIO and obviously they see something in Suvo.

Could it be the fact the kaolin business alone gets the shares to almost 12c? (almost 4x from today)
What about the geopolymer concrete which seems to be gaining traction with Government jobs/partnerships with large privates? Could some funding from this raise be reserved to push this forward faster? What would this do to the share price?
Do they have other projects in their portfolio which they may consider funding now that they are cash strapped? Eneabba? neighbouring Iluka who just got over $1 billion dollars for their rare earths refinery and have over $1 billion dollars in monozite waste stockpiles. The same monozite found next door to Suvo's Eneabba deposit?
Trawalla? strategic partner? offtaker?
Pretty sure Canary saw a pathway beyond any 'cap' in this stock

Mr Hugh Thomas aka ex JP Morgan, aka ex Morgan Stanley, aka ex Investec which he said almost every time he spoke
His impressive CV in Australia contains the following highlights:
Indochine Mining deslited appointed as Chairman in April 2014 'resigned' July 2014
Robust Resources delisted appointed as Director in September 2013 'resigned' October 2014
NT Minerals currently in its prime capped at $4m market cap trading at $0.005 cents per share
Suvo probably missed a beat here by the looks of things. Oh well over and forgoten.