Wrong.GXY issued about 73M shares to instos.Shorts subsequently...

Wrong.

GXY issued about 73M shares to instos.
Shorts subsequently dropped by about 10M shares.

That is NOT a "huge portion".
Gets your facts straight.


JZ did NOT pick the "bottom of the cycle" to do the CR at a "huge discount".
The bottom of the cycle was months ago.
Our SP was UNDER 3 cents remember?
As I said, it hovered around 5c for the best part of a YEAR, then upon a spike he does a CR at a SIGNIFICANTLY higher price than the sp has been for almost all of the previous year.
You seemingly have a firm belief that the sp would have simply continued to rise, and we could have waited a month or 2 and raised at 20 or 25c..? You are GUESSING. It is indeed possible that the sp could have continued to fall back to below the CR price had no action been taken. It easily could have in the next month. Why not? Heard of risk management?

But hey, don't let facts get in the way of a good whinge.