at what level can we expect the cap raise?, page-82

Mike,

They are similar in that the direction of the share price is down, and like Baraka, I fully expect the price to plummet well below the rights issue price for a period at least.

But let me put my point another two ways:
- Worley's issues are occurring DUE to the current resources sector environment, whereas Forge's would have occurred in any environment.

- Worley's issues are external. Forge's are internal.

As for the investing lesson's here (some consolation at least), Camden's treatise on risk is important for me. Forge's financials for the past 4 years are exemplary, however, the risk was still there. A consistently high return on equity with minimal debt was not enough. There was still risk inherent in these projects, and one of those bombs went off.

We're about to cop a 100% dilution - at least - and I've been asking myself the following question: what would it take an executive at Woolworths (insert any Company name here) to do the same damage to his/her shareholders?