Hey Sk1nman,
that was me spruiking those comments from the last quarterly.
Raising $10M @ 2.5c is 400M shares which is a 10% dilution - seeing as management hit a home run with the last cap raise at 7c and the fact that we had enough funds to keep us going into the new year where the shire proce could have continued onwards post ML award, this one seems like a bit of a kick in the gut. it clearly states the VMM holding in the quarterly as potential cashflow and would have kept us going for longer to minimise the dilution.
I will reserve judgement until the details come through as IMO management have been doing an awesome job the last 12-18 months.
Ann: Trading Halt, page-17
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