Your probably right, they ran out of cash just before the GFC meltdown andhad to do a deeply discounted share issue.
They are very conscious of the fact that the original IPO shareholders (20 cents and went to 60 cents) who could not participate in the issue have been badly diluted.
This is why they want to have a crack at the Nickel before issuing too many more shares. If the Nickel delivers then it will repair the damage suffered by those nor particpating shareholders.
This is alo why they will always go a rights issue or share purchase plan rather than a placement. They just wouldn't do that to their shareholders at the current share price.
These guys really do seem to give a toss about their shareholders.
Good blokes is what I have found
AVB Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
