Nickel flop update, page-12

Yep, KD. And with no near-term Zn* news flow to feed the chooks with it's on to Plan B in dusting off a narrative about some Au ground to entice the suckers punters. Interesting to see most of the raise being pitched to retails, with apparently very little soph/insto interest. Dunno whether it's underwritten at this stage, or whether any there will be any (pointless) 'sweetener' oppies included. Judging by the recent acceleration of the downtrend in that particular stock I suspect the rush was on to 'go live' before the publishable x-day VWAP to discount against completely collapsed.
I suspect there will be a pretty decent subscription shortfall.
(*Degree of decoding difficulty: Low.)