If Rio have been spending around $2-2.5m per year on average at Paterson North, for Sipa to cap raise at current sp levels... well. to get just $2m they'd need to sell 100 million shares at 2c. Given thy only have 228 million shares on market atm. They would dilute existing shareholders by 43%... or even 58% if they raise at 1.5c. Thats just to get them on ground at Paterson North, then what happens with Wolfe Basin, Barbwire Terrace, Warralong and Skeleton Rocks? Rents and rates alone will be adding up.
SRI Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
