The attitudes of people are very interesting and very telling.
Yes, taking part in the SPP helps the company (only very marginally if it is underwritten).
No, it does not help you as an individual investor. Very obviously, if you can buy on market for less than the CR price, you are wasting your own money from the point of view of your own financial situation.
If SYR is a company you view as a charity or beloved family member you wish to support at a cost to yourself, okay, it makes sense to take part in the SPP. If your goal is to make money and you view SYR as a company which to you is a potential investment opportunity, then obviously you should no take part in the SPP.
If you are taking part (hey, your money, your choice, don't look to me for judgement), you are either stupid or you are openly acknowledging that your actions are not determined by an objective goal to maximise your own financial position. This is objective fact.
With the above in mind, be careful who you take advice from and consider what their motives are and their analyses are based on - they may be flawed and/or not in your best financial interests. This is very often the case, but it is especially transparent in an objectively assessable way in this instance.
And yes, I sold out as soon as trading halt was lifted, because it was clearly going to be my only opportunity to get out above the SPP price and I knew if I wanted to I could buy back in below it. I won't lie, I'm not willing to sacrifice a significant amount of money to my own financial position to provide negligible assistance to SYR, a company which cares no more about me than it does about you. I do hope SYR eventually gets somewhere, I'm keen to see non Chinese graphite (and all other resources) flourish which is part of why I was previously holding, but we're not appreciably helping by paying more for shares through a SPP rather than paying less for identical shares on market with less hassle and waiting involved, and after all these years of them faffing around trying to get things working in Africa, I'm not sure I'm much of a fan of this company anyway, other than them not being owned by China.
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