Similar thoughts to yourself and to Tanon.
It's not underwritten - because no-one will back the company/product, or is it a way for the board to top up?
They didn't reiterate intention for eoy auction. Do we blindly trust it's still on? Not easy to have faith in this co..
It was obvious cash wouldn't last till eoy, IN CONTRAST TO WHAT THEY STATED. All of us should pay attention seriously now to continuous disclosure, and start noting relevant thoughts going back to burette days. Should this go sour those on the board have enough to suggest a class action could be worthwhile.
1.5 mill won't last long; this could equally suggest the expectation of up front cash from an auction.
Important to remember high standing of our US investor. He increased involvement by becoming a director recently; to my mind he wouldn't do this if pericoach wasn't feasible.
Always was a gamble, and I'm not confident enough to increase my stake. If I was sure the auction would be held this year I would.
ALT Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held