you picked it @mondyinvest . i thought they'd get away with not having to raise after they released their March quarterly report but obviously the coal price plummeting was the final straw.
For me this raises a very big question. Even after seeing the December Q report in late Jan 2023, you suggested that they may need to cap raise. The share price was around 29c then so if they bit the bullet then a cap raising at 25c could have been done. But one of the directors decided he really wanted to sell and offloaded 40M shares at 27c on 3 Feb. I would really liked to have been a fly in the directors meeting that discussed the Dec Q report. Was he pushing not to do a cap raise then so that he could offload shares instead? Now they have to issue shares at 17c instead of 25c which is terrible for shareholders.
Also i find it interesting that pimpmystock's broker was suggesting that BCB was a takeover target on another thread. Let me guess, that broker is now also one of the brokers that are managing the cap raise?
