13 Months of absolutely horrific capital...

13 Months of absolutely horrific capital management.

Timeline
-Shareprice toward the end of 2023 0.9c while suspended briefly pending the acquisition
-Acquires project with more than a bit of promise in an at the time a hot sector that got hotter during the first couple of months
-Repeatedly claims won't need to raise in the near term as drilling will be cheap
-Price goes up significantly, peaks at 5.7c, near 530% gain from price at acquisition, at this point things have been played well by management (pending being able to secure a decent chunk of funding to secure the next 2-3 years), except they got greedy thinking things were easy and always going to be good. Spoiler alert, that isn't how things tend to work at the spec end of the ASX... Especially for a hot sector.
(They didn't take advantage of raising while they were hot, while people would be willing to throw more money than they need at them)
-Still maintains won't be raising soon, while shareprice starts to fall rapidly as REE's cool off
-~3.5 months after acquisition/trading resumed, they raise at not only just 1.8c (well, really a bit lower accounting for the free oppies that would've been worth something at the time), not only at a much lower price than the high with the shareprice having dropped to then be 2.2c, but incredibly only for a small amount of $1.5m, with funds to be put wholly toward for a project no one actually cares about, a project valued by the market prior, then and now at arguably $0(Charley Creek). The project that was last Ann'd in July with supposedly follow up work having already commenced and more drilling to be done, with nothing heard from since... the only followup commentary from what I can see on this is from the quarterly, not usually a good sign. Maybe the due quarterly will shed some light?
-Sector then further cools
-Cash balance dwindles during the ~9 months after the peak, giving no one incentive to buy in, knowing the inevitable is due at some point unless the company gets a miracle recovery in REE sentiment
-Finally raises near 12 months later with the shareprice having last traded at 0.5c, with that on the sell side and minimal bids currently at 0.4c, realistically the shareprice is under 0.4c. so best case you would assume to be raising at 0.3c perhaps with a bunch of oppies with a lower strik than those existing.

Incredible destruction, they only had to raise a decent chunk while the shareprice was at say 4c or higher to secure the company 2-3 years of funding and a chance to ride any downturn during that time or the opportunity to move to another project should things not work out with what they had, instead anyone holding today is probably thinking this isn't worth anything. Had the company raised say $3-5mil at 3c while things were hot on the way up, no doubt this would be valued at more than 1c today, heck had they raised above 4c, maybe it'd still be valued over 2c, it'd be much better than the near complete capital destruction that they have steered the company to instead..


From 0.9c to 5.7c, and only managed to raise $1.5m at 1.8c (plus free oppies) along the way, with these funds not even being used for the project that showed some promise. Now down to basically 0.3c and rattling the tin?

All current holders, especially those that have held for say 12 months should have every reason to be upset and question management and how they have mismanaged this company over the past 13 months. Might be worth making note of some names and being sure to keep clear of them in the future.