If you look at the way they raised capital in the lead up to drilling MK-1 - they raised $8m at 10c in Jan-22, then $12m at 20c in May-22 and finally $25m at 23c in Aug-22 before spudding MK-1 in Sep-22. The price continued to trend upwards as we approached the spud, despite the fact that there were 3 capital raises.
I personally can't see how you would ever get a better deal than 12c heads with 1 for 2 free options.
IVZ Price at posting:
11.8¢ Sentiment: None Disclosure: Held
