Joe said we are cash positive to end of first quarter 24, which means we will likely see a cap raise in the fourth quarter 23. He said it would be opportunistic, so I guess he is hoping to see the sp push up to minimise dilution. This is perfectly understandable companies need money to operate, indeed that’s what the stock market is in part for to provide cash for companies to develop in return for hopefully a big pay off.
Unfortunately we usually see a drop in SP around cap raises, hopefully COB can release and promote over the next couple of months to get the SP moving upwards and attract some investment to offset this.
Perhaps this is why we are seeing a drop, market is waiting and watching or holders are selling in anticipation of re entering at a lower price.
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