@Jack1960 You were condescending in manner, but I am meant to work out you were being "tongue in cheek"? Really rather not finish on personal grievances before Christmas. Again, lets try to focus on ASM rather any one individual investor, yourself, me or others.
I'd rather leave ASM investors with more cheerful thought that might help them across Christmas, having seen abysmal share price drops since the raise. As I have shown above, not opinion, just pure math, the dilutionary effects of the capital raise, coupled with the extra cash should have seen ASM theoretically trade $1.935 vs it $1.975 pre-capital raise price.
ASX200 closed 7108 today. On 28 October (pre-capital raise close) it was 6786. Lets take popular CAPM style arguments out for the post raise drop.
NSW grant as you say a boost. Today's news a little disappointing, but given NS World has a few frictions in today's supply/skills constrained economy hardly a surprise and nothing, even with overnight moves, to warrant -6%.
There has been little ASM or wider commodities news to warrant such a sell down (feel free to correct me, with specifically ASM related news), since the raise. End of year tax selling from US based investors might not be so far-fetched.
Smith has been keen not to talk things up after DW's hyperbole, but with some Korean and potentially US contracts/customers (they are apparently very impressed geopolitically by the S.Korean connection) likely emerging next year, perhaps you might well have opportunity to get out at $4+ as soon as late 2023.
(20min delay)