capital raising to commence drilling of jaya s, page-20

336m QPNO already issued.

So add 834m shares + 417m options to the existing issue you get

2879 shares + 753m options or 3632 full diluted.

Not enough info at this stage to decide whether to buy up to full loading or not at this stage (or take up entitlement). Will wait to see the offer details. I wouldn't expect drilling to be commencing until a week before offer is concluded at earliest given Ramadan and the fact that tranche one will only give them $1.2m which might be enough to start the hole but probably not enough to finish it. I don't think they could cut it much finer than that or they might risk drillers and mudders walking off the job half way through.