Say Your Prayers / It all comes down to APUS, page-12

I don't think you understand the point of the posters - it is not the CR (that is a totally different issue - of whether it should have occurred or not etc etc); it is the processes of the capital raise.

Fact - significant oil discovery at PAVO 1 well.
Fact - share price quickly climbs to 43.5c.
Likely - CVN management talk to instuition placement holders (Euroz) about CR, shortly after discovery announcement.
Fact - within 2 to 3 days the share price falls approx 25% from 43c to 33c within a few days with major selling of shares.
Fact - CVN announce CR of $70m @ 30c per share to instuitional & sophisticated investors.
Fact - placement holders almost immeditely announce the subscription of the CR overwhelmingly taken up.
Likely, it was a bloody rort upon the retail investors.
Likely, the same shareholders who sold out at a higher price are back in at 30c. Nice bonus for those in the know, wink, wink, say no more.

Cook & mangement have many questions to answer.

That is the issue, not whether the raising of the 70m was good business.