You just had to know a cap raising was coming due to the cash balance and their stated ambition to continue activity..I do believe I mentioned the possibility. I believe the share price has already factored this in, hence reason for the mkt cap not moving past a poultry 35 mill.
I held on in spite of the devil inside saying sell sell sell and buy back later. I did this due to the recent activity, i.e appointment of the DGR director and CLQ making strides plus the fact this is just way undervalued.
My theory was that many people will look to get into this once cashed up, and the method of cap raising could be that a substantial company/institution takes a stake here and this could kick off a re-rate in the immediate aftermath, perhaps one of those waves olympian keeps talking about.
I believe in the wake of a reputable company taking a stake the share price will double in the weeks and days that follow. It could only be interpreted as bullish IMO.
The only way this could be value destroying is if existing shareholders are asked to dig deep, this thing not being underwritten, or no company or institution coming to the party.
I think it will be the former not the later and I am probably going to avert my eyes from the gift horse and onto the purse strings.
Picksel that is not the worst attempt I've seen at swaying the mood in a negative direction. But my guess is I'll probably be seeing you in the buying cue. GLTA
