I think the complexity of the capital raising made it hard to understand and calculate underlying value.
I think this last investment now finalises this corporate activity, but it will be important to understand who holds what and for how much once the dust settles and any loans are converted to equity.
I kind of see the AJQ team as skating along taking any option to line up any dilution with upside, so everyone is pulling in the same way to get a great share price outcome.
It is extremely positive to see how the de-risking process has been carried out so professionally, with no or few unexpected issues, and nothing material. I see this as reason to back management.
It has taken a lot of faith, and some careful averaging down plus the AEGP bonus to get me in the money at these prices (considering my original entry was 22c), so I am primed to see substantial upside from here.
AJQ Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held