cap raising over subscribes accepted greedily

Oh my. Another ASX company trading 'unusually'.

I comment because I subscribed for my cap raise on the last day. And I was sure I would not get... as my reading here said it was 'first in, best dressed'. But the share was like 63 cents, so I tried my luck.

Amazingly, even though it was supposedly over subscribed my thousands of dollars was accpeted (dare I say GREEDILY, now).

One can guess the company knew the grades were way below what they thought at the end of the subscription period. So I can envisage the Company saying 'we are oversubscribed, but we know we will crash and burn soon, so we might as well take the suckers (...sorry, shareholders) money now... as much as we can at 60 cents.

If my time line is correct, someone please correct me. But since day 1 they have been pouring silver, they have known the grades are crap. From Day 1... what day did they start pouring. From this day they knew there was a problem.

Of course the market must be informed ASAP. So I say TODAY is the first day (not even at 9 am, but one hour into the market)... today is the first day they knew 'oh, my... grades are crap'.

And they have the hide to then say 'but we can pay all our bills currently'. Of course you can pay all your bills... you took millions at 60 cents with, in my opinion, knowledge that was not freely in the market - but knowledge you had.

Maybe I am wrong. And maybe my timelines are wrong. And maybe just today they looked at the grade printouts for the first time at 10:50 am.

Or mabye I have bought yet another Aussie Cowboy Company.