I don't like the fact that the messaging from the company had been positive around balance sheet with the 55c options + asset sale in the back pocket, to then turn around and pull the trigger on another raising.
Doing it pre resource upgrade tells me they are coming from a position of weakness, not strength, for further institutions or a strategic partner to muscle their way onto the register pre upgrade.
LPI shareholders have only just recovered from the last capital raising, to be faced with further scrip being issued.
LPI Price at posting:
37.5¢ Sentiment: Hold Disclosure: Held
