Rockist,
“If so, then there may be no need for PAX to raise more cash, although the funders may bargain to 40 or 50 % equity for their $30 mill in this example, leaving PAX shareholders worse off.”
Would it? PAX shareholders will be getting a stake in a geothermal project that is actually going to be built and generating a profit. How many geothermal companies listed on the ASX can claim that?
