I certainly haven't lost confidence, but the raise could suggest a low ball offer on the lithium asset/s, so rather than play around with that they just went straight to a raise / show that they don't 'need' the asset sale immediately / take the pressure off themselves. Just a guess / possibly didn't happen and couldn't get a sale through quick enough. Maybe they also anticipated a market correction. Who knows.
Personally missed the very bottom of the dip but the timing was unfortunate with a market crash going on at open, think that has to be taken into account / was just unlucky but has impacted price action. The raise is only small for shareholders particularly considering they're grabbing some, and you can't buy anywhere near that volume at 10c right now (10.5 at market). I'll be surprised if it doesn't go through and could even be oversubscribed. I'd like some attaching options personally haha, that would've forced me in, just not sure I'll have money available to partake.
History of capital raises suggests we'll stay around this price until the SPP is finalised. Market cap only 50m. confidence unchanged this end.
nfa/imo only (some of it absolute guessing haha)
PSC Price at posting:
10.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)