I'm a bit frustrated too. My only thought is that they are...

I'm a bit frustrated too. My only thought is that they are potentially short of cash to pay for the current works. Option then is to either sell some BYE - which means the company is in a bit of strife if Vali doesn't work out and they have limited BYE/cash left; or raise capital. Looks like they were probably hoping for a good run-up like VEN has enjoyed, but that simply didn't materialise. I can see that they've gone the sensible route, it's just a shame that it hasn't happened from a higher base. Fingers crossed that it's just small event. 2 million or so will be pretty palatable, but if we're talking 5 plus I'll be pretty miffed. Also hoping that they have some interest from some bigger boys - I'd be pretty happy for them to raise at a discount if it introduced a larger player to the register who was prepared to buy more afterwards. Not sure how plausible that would be though; but has been very hard to pick up any meaningful quantity with how tight the register is.