Again, I'd rather stick to discussion of ASM, than individual's...

Again, I'd rather stick to discussion of ASM, than individual's tax decisions, yours or his, certainly rather than condescending lectures on tax approaches on entirely different circumstances previously described by him anyway. He actually specifically said: "I put my sell order in about 20 minutes ago, will crystalise the loss and rebuy at some stage." Selling shares at a loss here very different to your selling at $8-10, bully for you....

Anyway, back to ASM, I agree, it is very attractive at $1.50 and certainly $1.40 - but like you, easier for me to say having sold demerged ASM shares at a profit and having money to spend.

ASM was very attractive to more informed Institutions to buy 15 million shares at $1.73.

It was very attractive to Directors, (very informed insiders with far more intimate knowledge of the business than you or I) to buy 2.341 million shares at $1.73.

Its was attractive to some retail investors to buy 8.749 million shares at $1.73

Lets do some math on specifically the dilutionary effect, offset by the extra cash on its books:

Before the capital raising the market valued the company, with some 140.6 million shares on offer at $1.975 on 28 October. i.e. $277.7 million dollars.

On PURE mathematical terms, after the Insto/Director raise, the dilutionary effects, coupled with the change in cash, should have seen the company theoretically valued, versus its pre-raise $1.975 close at:

[(140.620 million shares x $1.975) + (17.341 million shares @ $1.73)] / (140.620 + 17.341 million shares) = $1.948

Similarly adjusting that price by the retail raising:

[(157.961 million shares x $1.948) + (8.749 million shares @ $1.73)] / (157.961 + 8.749 million shares) = $1.936

So, all things being equal the pure mathematical effects of the dilutionary effect of the raise and extra cash value on the books, should see the stock trading, theoretically, post-raise at $1.935 with the new shares in place vs the $1.975 prior close if that is a fair value price.

Alas at the small cap end of town, mathematical rationale does not feature as much as at the big end of town. Why buy the shares at $1.85 say investors if I can buy at $1.73.

Has anything drastically changed at the company? Yes, its got a truck load more money to continue with its business objectives.

There seems to be discontent about what that should be used for. The original release:

“Funds raised will primarily be used to accelerate activities at the Korean Metals Plant andto progress the Dubbo Project”

What Rowena said when the oversubscribed SPP complete:

“With the funds received from theSPP and the recent placement, we are now in a strong cash position to support production at theKorean Metals Plant and deliver the offtake and strategic partner work for the Dubbo Project.

Not quite sure of the dissatisfaction post the capital raise? The company has more cash on the books to do exactly what it has consistently said.

That investors didn't sell at $1.975 pre-capital raise, but would at $1.42 is frankly a bit stupid. I am happily buying where I can.