Hi Kfann I'm not sure how a CR based on the pre drill ramp in the shareprice leading up to SAMO would have gone down....basically you are asking providers themselves to abandon best practise and take a punt on the outcome of SAMO with others money... would have been at a serious discount to the price at the time if it had happened IMO ( although certainly higher than the one we did get) and the outcome would have had a lot of unhappy new investors and previous supporters on the register...
IMO it was probably more of a calculated decision than a gamble...these are decisions made at board level and almost certainly with input from their advisors, as you say they won't get everything right but it would have had serious thought given to it as to the various implications either way..
The shareprice really got hit when a larger holder exited their position and several others it held, as I understand it, something that can't be predicted and that exit may have been exaggerated by an even larger exit by holders if we had raised before SAMO...we will never know ..
What we do know is we are at 6c with around $60m in the kitty, a bunch of new shares on the register and heading into a rather interesting 6 months ahead...
CheersWhisky
FAR Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
(20min delay)