When you invest in the shady end of the market reliant on ASX cap raises its not too dissimilar from other MD's so pretty much the same and he isn't really doing anything too bad.
The disinformation (I'm not sure if this part is to try and get retail not to panic about cap raises) does lie in bank funding and offtake agreements that rarely if ever eventuate on a well that hasn't even been flow tested.I've never seen a bank lend out cash without some sort of independent 2P number on the reserve they can take as collateral and not sure if he is intentionally doing this so that retail continues to support the stock when insto/SI do really know bank funding is still a future state dependant on a number of things happening.
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