Well, I'm sure this will all make more sense at the end of July/Aug when we are at $37.... let's hope the magic of the Fib chart prediction takes into account all of these gyrations!
If it's a CR then it's strange that they have just titled it 'Metallurgical Testwork Presentation' given that the last CR ann was clearly titled 'Equity Raise Presentation' along with the preceding anns that clearly announced it. The preso footer does say 'investor presentation' but perhaps they just copied their last slide pack as they look pretty similar in format. Rather than a CR, could it just be at attempt at consolidated/summary upsell for the various traders and ratings agencies before the MRE to encourage new investors from July? If so, then why not just issue it with the mets ann last week or the MRE ann to come? Noting Naydoe's observation, maybe given the carry on about ENR it was also partially a subtle way to say the primary deposit is almost fully on WA1 tenement and they have just got the outer edges - hence countering some of the potential investor questions on this?
Either way, I wonder if regal got an invite to the presentation. Will also be interesting to see if there is an effective plan to address the recent SP movement tactics or if it's all part of some bigger plan.
Would seem to still make more sense to do the CR (if that's what it is) after the MRE at a higher SP premium and lower dilution, but obviously the people stumping up the cash won't prefer this. As long as the dilution is more than offset by SP growth as it has done previously then ok for us.
In the meantime, the bots are just continuing to plug away doing their thing. Will they get their red day bonus today as it looks like we've swung to mild green?! Very interesting few days and weeks ahead.
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