Roger1.There is another way to look at this cap raising.The...

Roger1.

There is another way to look at this cap raising.

The entire market is off almost 20% this year and the small cap have been punished even more.

In a very tough uncertain market it makes sense to take cash when you can get it. Many companies have failed because they didn't cash up when they could.

Rey has made an insurance bet. They have traded some of everyone's upside for an increased certainty of success. So at the same time you upside decreased your risk profile also reduced.

Any investor wishing to retain the same risk profile it would be possible to buy more shares. Or perhaps sell shares and a synthetic exposure.

I think this company has some things going for it and is working hard. I would also think that the directors would have preferred to be raising money at 80c.

One needs to walk a mile in another's shoes to get a full understanding of the others reasoning.