Thanks for sharing. Looks like this one stays in the "long term try not to look at it basket".

From the look of things the Options granted with the last SPP look like they will expire underwater so at least that might mean less chance of further dilution (the biggest and historical risk with this cash burner).

Subject to receiving shareholder approval (if required) at the extraordinary meeting of the Company scheduled to occur on 14 June 2023, Eligible Shareholders will also receive Eligible Shareholders will also receive 1 free attaching New Option for every 2 SPP Shares issued under the SPP Offer. Each New Option will be issued for nil consideration and will be exercisable at $1.365 and expires on 31 December 2024. Each New Option gives the holder the right to subscribe for 1 Share upon exercise and payment of the exercise price.

DISC: Held IRL and SM