Although this looks like a good area to buy IMO it is not worth the gamble until funds secured.
Think of it like this, they need to raise around 10-20 mill IMO, considering the share price is low theyll have to do it at a discount. Imagine say 10 million at 4 cents, thats 250 million shares. they would be nearing close to 1 bill shares on issue if they were to raise 20 million, then they would have to churn through all those shares.
Bio space is hard atm and raising cash even harder. Hence why I look for cashed up bios with a pathway to results.
Unfortunately CHM has timed this terribly and are left with no choice now with backs against the wall.
Charts broken down so there is no real defined bottom yet. Plenty of time to base and take a position ONCE FUNDS ARE RAISED. Till then this is a monster gamble with a possible huge dilution on the cards, hence the rampant selling IMO
CHM Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
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