Agree with you, not happy with the further dilution and did not see the need for it. Its not like all of a sudden 9 PCEs are going to pop up, have to get them up one by one, this takes time, if they used the cash on hand and debt facility, to construct the first 4 or 5 which going by the past would probably take atleast 6 months to end of year, who knows where the share price would have been, could of raised at a lot higher price if was even needed, we werent exactly going down after all these good announcements.
I see this as the first misstep Nan has taken, did not need to dilute holders at an all time low cap raise price.
The positive is that its at 2.2 cents, not a huge discount, we were trading this price just 3 weeks ago, and if its mostly already taken up then thats great, not shortfall to spook the market.
ECS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
