Hmmmm same, my entry price was 86cents, so I'm heavily under...

Hmmmm same, my entry price was 86cents, so I'm heavily under water. Should cut my losses and move on.

not sure how much you can trust statements being oversubscribed, everyone knows hows broker manipulate and over inflate these figures.
how do you know it was "smart money" . This is still retail mums and dads who are coming into placements, nothing special here.
interesting that Thornley haven't released an updated notice in change of substantial holding, obviously Thornley did not participate. Nor did management or any directors participate in the raising, these guys are probably he "Smart money" as hey are closest to he company operations to know if it's any good or not good. Bearish sign for management and directors to not participate.