whats behind all the selling pressure, page-22

Hey mate,

A $6M raise at this stage of the game, with the funds required over the coming months to complete Stage 1/2 milestones and also for staff costs (which has been increasing)….. just won’t cut it, we would need to CR AGAIN rather shortly after.

A SPP to holders would need a significant portion underwritten to guarantee a decent amount raised, still wouldn’t cut it on it’s own (for anything long term).

Raising to the US investors would reek of desperation, and also reward an entity that did nothing but add selling pressure AFTER getting a ridiculously generous deal + options…. All IMO.

They will need to raise a substantial amount with an institution …. Which would ideally ALSO include an avenue for current shareholders to participate.

So far they’ve reward entities who have done absolutely nothing to support the company and SP, whilst shareholders who have actually supported the company for years have been under appreciated…. It’s about time that changed (let’s not forget, they did state that there would be an opportunity for shareholders to participate in raising capital).

I think post BFS, if the company has been lining up all their ducks over the past 18 months or so….. they shouldn’t have any issues raising significant capital with supportive entities.
May also explain why they were in such a rush to give themselves some skin in the game this FY (as in, there may be a lot of positive announcements on the horizon), despite pissing off the majority of shareholders.


I feel an exciting few months coming up, time for JP and PS to earn those “performance options”.


All IMO, etc etc.

Cheyne