News: APC Australian Potash Announces A Renounceable Rights Issue To Raise Up To About $5.2 Million..., page-13

Nothing has changed regarding the project and as my last post in the earlier thread stated, a large cap raise isn't the issue per se, it's the price and the options that are now capping any further advancement in SP.

If you're looking at 8c raise compared to the trading range for all those months, remember the only reason we were trading at 6c for all this time was the fact that they made such a mess of the last CR in the first place. Had they not done that, it is very realistic that we would be trading comfortably and consistently over 15 cents and a raise would be 12c+.

Once the SP finally recovered, they couldn't help themselves and had to do it again.

Brokers don't underwrite if they aren't (a) getting a hectic fee for it, and (b) confident they will get the raise away.

If they're going to existing holders for the raise, what exactly does the lead broker get paid for? Do they get paid for existing shareholders putting money in themselves? Genuine question as I don't know.

Bottom line the DFS obviously needs to be done and the amount isn't a problem, I just look at where we are now and where it could have been with better management of the CRs in general, and how much I'm down when a better effort to raise funds without destroying the register would have had us all in the green. It's literally the opposite of what they should be working towards.

RIP 12c trading range.

The only silver lining is that they could have just raised at 4c instead, which is sad when that's the only real alternative.

Good project with DFS now funded. Can only sell now at a loss or give it another 12 months which will undoubtedly see good progress, hopefully not marred by more CRs, and hope for the best.

GLTA