hey mate firstly welcome :) the only issue they had with the CRs...

hey mate

firstly welcome

the only issue they had with the CRs last year was by doing a 2nd SPP

the first SPP in March April last year was oversubscribed

https://hotcopper.com.au/threads/ann-share-purchase-plan-over-subscribed.3365916/

as per ASX / ASIC rules any shareholder cannot do more than 15k in a SPP within 12 months

so that knocked out many people from the 2nd one in 2017 - they also stuffed around the dates and then did it at the same price as the 708 placement... and free attaching oppies etc

the share is highly held in the top20 [ as mentioned above many times ] and by team china

which means they can only go in 1 time and because there isnt a large breath of shareholders to take it up - especially for the 2nd go was never going to do well [ so wasnt the best idea for management to do it - instead of a nice rights issue (renounceable or non) - that would have been the smart play imo ]

as im sure you know SPPs are the cheapest easiest registry and broker wise - so an easy choice but a silly decision to go a 2nd time in the 12 months

the 708 soph / insto placement CRs have had millions $ everytime - and hence the few million kick in on the SPP shortfall January this year as they could get involved... i think they were placed to very non sticky holders this time - hence the dumping of shares that started so quickly

.......

positives for me are 2 DDs and 1 RC drill rig in action now

with the value of the JORC gold in the ground ridiculously cheap and open cut high grade multi targets getting drilled now i can see this as only getting more and more upside [ aswell as the UG of course ]

will defs have more CRs - but they seemed to get some great responses from their preso at inbada conference by financiers - once we get the infill and extension drilling done and maiden reserves with such minimal $ needed for CIL plant refurb [ currently awaiting multiple quotes from their onsite visits ] the LVR wouldnt need much further CR

Bill Guy joining the board, Phil Bentley helping out [ and the project being called project Bentley after him ] everything seems to be slotting into place - check the video that was posted a few times recently of them all onsite include Rob Thomson the MD

so agreed with @fbx258 - now its all about management kicking the goals on execution , getting great DD results and then keep the cashflow until the decision/ funding to mine

we can never get massive returns without risk

first in best dressed well at least buy at its lowest and wait for management to add the value....

$30 mil MC still does my head in... but i dont think it will be that low for too long...

have a great one and welcome again