SPP Offer opens 11-September and closes 4-October. Given the SP is already at a significant discount on huge volume, no-one could possibly bother participating. The low participation rate will probably drive the SP down further.
They raised $16m in cash but wiped out $60m in value of the company. WT-actual-F were they thinking? Leads me to think they had no choice. Any good news now will be sold into, keeping the SP down well into next year.
Someone is mopping up cheap shares like it's nobody's business and they are probably laughing all the way to the bank at the expense of retail investors.
SG: your anticipation is wrong.
The strategy now is to pray that they can pull off some very positive numbers from MGP which will in turn raise the SP so they can raise TECH funds next year for FID.
QPM is now a gas producer with a side hustle of a potential nickel refinery.
