Correct - Director's remit is to create long term value for...

Correct - Director's remit is to create long term value for shareholders, not froth and bubble for traders. The momentum is lost for now, so traders move on, most will have made a profit - good for them. The actual valuation long term will depend on what they find and how many extra shares they need to issue to fund it. Don't forget directors signed up for the CR, so if you want some at even lower than raise price then now is the opportunity. Unless JORC upgrade a complete dud, momentum should turn positive again and the traders will be back riding the next wave. Patience required, frustrating but all my specs go through this every time they need money, I can only think of one (IBX) that has not traded below its CR price within a few weeks. Some come back and some don't.