You obviously do not understand the market. The average volume was 20,000 shares oer day which artifically kept the price between $8-$10. The investors valued the company at approx $A700m now.
In one day, it traded 936000 shares. The company now has a floor price of approx $A700m.
The company also has in addition to the $22m just raised, $15m in the bank still, from BMW. This gives them a huge lift in being able to progress both projects.
Also I am reliably informed, it was at least 10 institutional investors that came in on this placement, not 1 as you indicated. (THe list will come out in approx two weeks when the company has to show its register).
Going back a few weeks, the company is expecting to receive the $US100mil for the Bitcoin purchase, which will also add to its balance sheet and put a floor price, even higher, at $6. So thats in total, $122mil being invested in CRML but astute institutional investors.
The ASX followers will eventually jump onboard.
You obviously do not understand the market. The average volume...
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