I for one, am truly livid as to how this has played out. Sure, it was a necessary evil, but if we're honest, a necessity only as a result of the continued failures of management.
Once again, numerous self-imposed milestone missed in this quarter - leading to further questioning of the abilities of management to deliver the project, on time, or worst-case - at all. Additionally, pi55-poor communications as to the reasons for these delays, which may have put some investors minds at ease and kept the SP higher than where it stands today.
We're now increasing SOI by a little under 10% - on an already over-bloated register mind you, and we haven't addressed the critical matter of how we're going to raise our portion of the equity for development costs. I pray at this stage that the additional % being acquired from the DRC is going to be used to off-set our equity component, otherwise we're going to be peaking well over 4B SOI once we are done and dusted.
Meanwhile, the entire Li sector has been going gangbusters for months - resulting in dozens of 200-300+% gains across our competitive landscape on the ASX. At the raise price of 13c, we're handing out shares at a mere 50% increase on the share price as it stood at the time of the first OT announcement.
Let's call this for what it really is - an unbelievably disappointing outcome for all SH's.
AVZ Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
