Surprise Surprise, I knew this was coming only surprised it took so long.
Well I’m very disappointed & it certainly will put a cap on any decent sp rises in the near term.
The fact that he needs to do a cap raise for this small amount is troubling & goes against what he has always said about cap raises.
I’d rather see FT tipped upside down and relieve him of the 20m he owes us(or at least part of)
Time will tell how the market reacts but dilution is not in our best interests especially when their is no concrete evidence of a plan moving forward.
Should not of announced the raise till we had the results of the cobalt, that is unless there is none & he knows no one will want to buy in with no prospects.
Good Luck to All.
CFE Price at posting:
5.4¢ Sentiment: None Disclosure: Held
