I don't think the outcome of the Bonus Issue will be of much...

I don't think the outcome of the Bonus Issue will be of much consequence to the company at all. I guess handy to have a little extra cash, but really I think it was always more of a sop to existing shareholders, and a means to encourage new shareholders to be perhaps a tad stickier than they might otherwise have been.

Still, it's hard to understand quite what threw the spanner in the works with that stratagem.

Perhaps the unexpected last-minute exercise (and dump?) of shares from 1c options from an earlier placement, plus the chopping and changing over how much to raise, and the raise timetable in such flux, threw the market maker, and the market more generally.

I'd be very interested to hear CAA1971's take on things. I note he/she has been very quiet for a while now.

At least that options exercise brought a bit more ($200,000) cash to the till to offset what presumably won't now come in from the Bonus Issue.


Surprising when there was so much enthusiasm for this thing trading at 2.5c recently, that now back at 1.3, with really all of the building blocks seemingly pretty much in place for the enterprise to move forward and indeed, accelerate into 2022, people aren't buying with their ears pinned back.

As Mike77 has observed, buying at these prices represents far better value than 2c shares with options that have 3c to pay.

I suppose the EMI license application is not yet approved, so there remains some doubt in folks' minds. But still ...


For what it's worth, I have been buying down here.