LSE tonight, page-11282

The offer has been sitting unchanged @ £0.070 since early in the session on the 17th... for the last 204 trades. And the bid has been stuck on £0.065 since the 19th too, suggesting the 20 day moving average of ~20mill is enough to keep that tighter spread, and that the MM's haven't finished their job yet supporting the CR 'profiteering'.

London's hourly


So, whilst the markets didn't seem to embrace the FO as both us and the BOD might have hoped, it really was a simple case of us having to give up something, to unlock something bigger.

And the punt was that investors would see us as having locked in a pathway to potential success.
They didn't, leaving us with a distasteful CR, and a whole bunch of 20:20 hindsight around the timings of the raise.

I do agree with Doc on the timings around our SP appreciation, and with Boston's thoughts on the "time value of money concept", when punters move on chasing shorter term outcomes.
It reminds me of a Bill'ism someone told me once;
"Most men pursue pleasure with such breathless haste, that they hurry past it".


Well, patience has been a virtue well earned and understood by most LT'ers here, and another 4-6mths now is seen (certainly by me),  as nothing more than a blip in our long meander.