Haha. If he is advising Manchester, would be modern times biggest view turnaround.
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Haha. If he is advising Manchester, would be modern times biggest view turnaround.
So what is there to like about the announcement?
Putting a bit more plasma into the intravenous feed to last another 1.5 months is good news?
Whatever happened to all that CONFIDENCE about great things ahead with the last capital issue of $21.3m at 32c in November 2017?
Why would any company on the verge of greatness (and greatness had been around the corner for the last 3 capital raises) and commercial success raise a miserable $2.6m at 32c when the sp will SURELY rocket to $1 on announcement of said success?
Existing shareholders should be up in arms - having pumped in over $120m at much much higher prices but ...
It is clear that PEB will not get any more money from existing shareholders (especially the sucker institutional underwriters bloated with shortfalls) so $2.6m is better than nothing.
What a laugh.
But of course, it's all about the good news coming, right?
Just as Harbour, Salt, Devon, Westpac, etc etc etc were sucked into putting tens of millions of dollars of their funds into PEB - good news is just around the corner.
Heck, the $2.6m from Manchester is not even a 4th decimal point rounding difference in its total funds under management! And the market is supposed to give greater credence to its investment than Harbour, Salt etc?
On a different tack, PEB and DD better hope that what you have written is not correct - because it will constitute breach of continuous disclosure, potential insider trading and/or selective disclosure of sensitive information.
Recall PEB was fined $500k a few years ago for exactly such an offense?