A bit hard to read really as to what goes on, only around 5m...

A bit hard to read really as to what goes on, only around 5m shares traded since announcement in early December. Not a rush to climb in or a rush to get out.
Take out say 40% held by MR and that leaves roughly 120m shares in play.
Take out roughly 60% for top 10 shareholders and that leaves roughly 80m shares in play. 5m/80m is 6.25% of shares turning over in the last month, bit of a nothing number. Perhaps the selling is motivated by a mix of wanting to exit and or partial sell down in holdings to take up the entitlement.
Agree holders would love share price to be at a higher level heading into the cap raise, ain’t that always the case. If they successfully implement the RWD process then we’ll be cursing we didn’t pick up more at these levels. This is really high stakes time for shareholders. If the process works then we’re sitting pretty with a fully developed mine site and closer to production than under pretty much any other scenario. Surely at that point we’d be in the realms of debt funding for the future production ramp up and not needing to issue more shares, also assuming all options would be in the money.
In for a penny in for a pound - I’m in for the full whack.
Glad though to be not relying on this decision to fund my retirement, it is very high risk at this end of the market.
Happy days