Mahe Capital has built a reputation in the Australian small-cap scene for managing highly dilutive, deeply discounted capital raises that often harm long-term shareholder value. E,g Alara Resources fell from ~6¢ to ~3¢; the raise was later pulled, compounding losses. Nelson Resources dropped dramatically from ~4.7¢ to ~0.3¢—a ~94% decline.
Perfect example also was Calmer Co (ASX:CCO). I genuinely hope Peter and the team do not use these guys again. Its hurt their share price.
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