88E 12.5% 1.8¢ 88 energy limited

Looked at from a different angle, this cap raise may be reason...

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    Looked at from a different angle, this cap raise may be reason to have belief in D Wall

    It is a tough decision to go against the grain of opinion and, focus only what provides the best opportunity.

    He initially set a cap raise target of $10m, which infers that was the required amount to achieve a best possible outcome from the Charlie 1 campaign and have enough in reserve at completion. Having fallen short, something has to be left out. If that something was initially worth it and the opportunity arises to secure it on better terms than original. Is it not better to go for it.

    Who took up the shares at 2.1c rather than 1.25c does not really matter. $10m were for sale at 1.25c some investors passed on that chance at 1.25c and have now joined at 2.1c.
    88e now has its original target at a lower dilution than expected, which seems like good business to me. Importantly they have it now, so allowing it to be put to best use in this seasons campaign.

    Did Dave mislead the market, or simply change tack when a good opportunity presented. Looking at what he actually said, I dont see any lies “wont need any more cash prior to drilling” is not the same as wont raise any more cash prior to drilling (needs and wants) Splitting hairs I know as his meaning was clear, but its coded into MD DNA to always leave wriggle room

    Managing Directors and Boards need balls to be effective. IMO this action and outcome are positives.
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