So, let me start by saying that this is in response to a number of posts (from some whom I do respect) so for that reason, I will keep this level.
It is well understood that capital is required to do the works required to sure up a resource, and I'm hopeful all understand that. However, it is also well understood that the levels and timing at which this capital is raised matter almost just as much. For this reason, being critical of a company's actions is necessary. Now whether or not the critical analysis yields any material results in the handling of company actions, it is still valuable to expose these issues for prospective investors who may be very new to the scene. Longer-term holders who are currently well in the red will understand this better than most.
This time can be a change in direction in terms of the handling of cap raisings by ASN, or it can turn out to be more of the same. A cap raising above the conversion price for the options would reveal a greater level of confidence in the Bull project (although extremely unlikely) and that would change my sentiment on how ASN have handled this particular cap raising.
It all makes it very very interesting when you throw in the recent listing of the options which were never intended to be listed. At least as we have been told. A change of heart.....hmmmm. This cap raising will also reveal just how cheap or expensive these options have been selling for recently too.
All the very best.
TOWB
ASN Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
