Thank you again for your clear answer to my question. But again it does not explain why following the capital raise the SP was at 32c in August and as low as 16c today (albeit very briefly). The CR diluted by 20% but added $55 million to the coffers whilst we have seen a 50% drop in the SP. Furthermore, since then they have expanded their operations significantly, increased available cash and produced a net cash position from operating activities of $1.269 million. I can't see them needing to to a CR any time soon (unless an amazing T/O opportunity arises, but even then....)
I genuinely feel that this company is grossly undervalued at current levels and I suspect that you probably agree with me (but understandably you want to re-enter as cheap as possible - who wouldn't). Cheers and GLTAH.
WZR Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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