PDI Chart and T/A, page-856

“Why as a company would you even raise capital at this time of year?”

They did it last year at exactly this time - $55m placement and the price action in the lead up to the 30/5/22 was eerily similar to what we’ve seen of late. That is, walking the price down in the lead up then whack another 10% vwap discount on top for good measure come raise time. Looks like this time whichever instos they’re talking to could be playing it this way - which is standard fare really.
If this is how it’s unfolding then it means further waiting for us impatient and suffering retailers as whatever juicy drilling announcements will come after, not before. It would be nice to get thrown a crumb or two occasionally but we are at the bottom end of priorities for these guys. Hope I’m wrong and we get a nice surprise early next week but it’s night and day between how old and new management ran things imo…