Ann: Adriatic Completes Institutional Placement, page-95

Was just trying to add a bit of levity.

My take:

- We have a market moving down quite quickly with many thinking it's got further to go.
- This leads to risk off sentiment and small caps are usually affected more than the large end as they are perceived as intrinsically being more risky.
- It's a few weeks since we had news and flighty holders tend to be impatient
- We issued 19.5m shares at 55c 2 weeks ago and as good as the company is there will be some happy to take 10% (give or take) profits for all the reasons listed above.
- TA probably compounding the selling effect

Depends what kind of market participant one is I guess.

For me with $15m in the bank and one of the best resources I have seen in a while I feel like the company itself isn't overly exposed to the market conditions (don't need cash) so I am willing to ride it out as the fundamentals are great. Price ≠ value