Chuk it is NOT a 23% discount.If you work out the 5 day VWAP...

Chuk it is NOT a 23% discount.
If you work out the 5 day VWAP before suspension, it's about 9.6c, which gives a 28% discount.

Then add in the free attaching option, IMO worth a minimum 2 cents, that brings the issue price down to 5 cents.
That works out to a 48% discount.

Our last listed options were issued in the 2021 cap raise on a 1 option per 2 shares issued basis, the SP at the time was 8 cents and the option had a 15c exercise price. Now when MNB later traded at 15c (the exercise price) in April 2022, the option was trading at about 7c and at that time it only had a year to expiry. So my 2c option valuation is very conservative. Some would even go as far as to say the SP was 9.1c when the cap raise was done, so the options should be valued at 2.1c (in the money amount) + the 2c time value = 4.1c.

The reasons the SP has dropped where it is are several
- Most raises the SP drops to the raise price, this time we have a minimum 2c option bringing it down to 5c
- They had to offer such a heavily discounted price + option just to raise $6m
- The timetable has been pushed forward from the 2024 growing season to the 2025 season
- The US$10m + US$11m financing CPs on the IDC loan

I'm still positive on Minbos and will continue to hold, yes it's a very frustrating stock probably not managed as well as it could be, however they do tick boxes - just at a very slow rate. Yes I'm critical - looking at your investment through rose coloured glasses is the best way to go broke, you need to have a hard look at your investments just like any thing else in life.