Apr. 17 at 2:14 AM
$IVCTF several users on Hotcopper have leaked that it is a
$10M AUD CR at 0.06c AUD (4.3c USD) with a free half warrant exercisable at 10c AUD with a 2 year duration. Still needs to be confirmed but very likely to be accurate due to the number of users independently reporting it.
I'm leaning toward this cap raise being a pretty bad sign. If the PPSA is about to be signed, why not hold off? Also, if funding is lined up, why dilute 10% for no reason? I don't think there are any good answers but probably the most positive interpretation is that they need the money now for long leads and signing service contracts.
The most negative interpretation is that no one is interested in funding the project and the PPSA is still a ways off.
