with the obvious assumption that the share price won't continue to tank.... what's to say the share price will fall to 5c, to reflect what the market truly thinks the market cap is, $23m? even post this placement, our market cap as at yesterday's close was $25 million. a market cap of $42m is a whole $17m higher then our last price, and I bet with this announcement, it's only going to fall further as a result of share holders p*@#ed off with the continued dilution.
I'd argue market cap means absolutely NOTHING to shareholders who are down upwards of 50%. yeah, it's good for the company, but when you continue to dilute OUR shares, the company has to work twice as hard to give us shareholders ANY value/return. remember a few months ago when we hit 16c, we were at a market cap of ~$50m.
on the flip side, it's not so bad if you're new to this stock and haven't had your holdings diluted time and time again... this placement must surely be the last of a long line of CRs and dilution tactics to keep the company afloat. I might actually be happy to retract this post if they can pull a rabbit out of the hat in the short term!
BMB Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
