Who’s buying and selling, page-30

I'm with Finn on this one, I think they did a great job.

Prior to this acquisition to use Doc's words in a recent interview - "this company was on the bones of it's bottom...was down to 4c a share, had no money & no prospects"

We had a market cap of around $40-50m and managed to raise $74m at a premium price to what it was trading at. In fact for the 7 sessions prior to the acquisition, the highest price it traded at was 14c. I think that's remarkable. I can't think of a single smallcap company that has recently raised that much money at a premium to the vwap of the last 7 or so trading days. The alternative would be to raise at say 12c - 25% more dilution!

Obviously the downside is the overhang it creates. Doesn't worry me, the earliest I'd sell at is when the main pit is in production & we've realised value from the lithium - in other words when it's fully priced.