investors waiting for funding, page-6

Robmillion - your alternative proposal doesnt work because it is not a "cap raising" - the $350m is passing to current RES shareholders, the buyer of RES still has to come up with the shortfall between bank debt and Capex.
Currently it is more likely that a bid would be in the $0.40 to $0.50 range.
I sold all RES shares avg $0.31 (cost $0.41) simply because they cannot fund this project IMHO - 3 massive positive announcements and the SP tanks (Europe has not been saved, the 18th European Crisis meeting has only bought a few weeks of grace to debt markets), IMHO the forthcoming banking facility will pose further questions / not answers to RES mgmt.
I cannot see how mgmt will stomach a 5 for 1 share issue - the only funding source I see available is selling say a 25% interest in the project at the project level reducing RES interest to say 50%. If they could raise $80 - 100m by doing this then they have their 50% of the Capex shortfall or thereabouts. A signed Eskom deal may get them a little more than 50% of debt funding - perhaps 60 - 70%.
Huge potential but the hurdles remain just as huge, keeping an eye on this one for a "more opportunistic" re- entry. RES reminds me so much of SDL Sundance, world class asset but too small to develop it and becomes a plaything for those with deep pockets.