I have the same view, and it appears the market does too. A...

I have the same view, and it appears the market does too. A totally different outcome today compared to AWJ and MM8 who had massive green days when their capital raise trading halts were lifted. We ended slightly red, instead of 10% + up. Plus, we have a higher gold price than those 2 had when their CR news broke. The only positive is the massive uplift in volume today compared to recent weeks. It looks like a lot of fed up and stale holders definitely took the opportunity to bail today, so hopefully there is less resistance from here.

The confidence has definitely been kicked down in recent times with the BOD failing to deliver. Retail holders have been diluted heavily since the restructure of the board and nothing to show for it...yet. As it stands now, without a share price starting to trend up, I will be voting down the 2nd tranche. Too much dilution for my liking and mixed messages from management. They have said in the recent presentation that Nimbus drilling and development was funded by current cash flow, now apparently the current raise is funding it? Strange.

At minimum, retail should have had a look in with the raise and had an opportunity to get in lower, as well as bonus options etc. It helps the company too, if those options do get up in the next couple of years. Something would have to go horribly wrong in the gold price for the options to fail IMO. Which in the current global economic and geopolitical situation and 4 more years of Trump, basically impossible for the gold price to collapse.

I cannot imagine our existing major investors would be happy being diluted further as well. Therefore, there is a good chance of voting down the 2nd tranche if retail holders are all on the same page too. Management better come up with a better deal or 2nd tranche is destined for failure. Plus, the vote being so far away, just helps cap the share price and add to uncertainty. I would have preferred to get all this negativity out of the way before end of June during tax sell season. Management better hope they start delivering in 2H 2025 or their positions may be at risk come vote time IMO. I do not see many other producing gold stocks in the mid cap range performing around the lows. That says a lot about management's decision making and runs on the board so far. Holders are fed up with the rewarding of the institutions and forgetting about the backbone of the company in the retail space.