I haven’t posted here for a while but as a long term holder, I...

I haven’t posted here for a while but as a long term holder, I am disappointed at the timing of this raise and the level of discount associated with this raise. Although I have been an advocate of management and what they have achieved over the past few years, even I must admit that this is definitely a blemish and does lack some serious foresight.

They raised capital in Jan at 1.8 cents so why didn’t they raise a larger amount then to avoid the scenario we are in today. The worst case scenario here is they couldn’t raise the necessary capital at the time but I suspect they were hoping to increase the share price with the recent string of announcements but that failed miserably and has backfired tremendously. Appreciate that rare earth pricing is in the doldrums and this is a tough market at the small cap level, especially when raising capital but 1.3 cents to sophisticated investors is a slap in the face to long term holders.

I have a purchase price at circa 2 cents but even I am possibly going to sit this one out for a while and see where we land. Sometimes, this is how the cookie crumbles but nonetheless disappointing times being a IXR holder. Cheers, CP.