this is not looking good...at the low end, page-7

StH,


The point you have missed in the capital raise imo is this;
It's not by accident that the raising is 48.5 M and not 50 M!!
The amount to raised is 48.5 M not 50 M therefore, the convertible noteholders strike price now reverts to the Vol Weighted Average price over the last 20 days trade on the ASX.
This tells you something....PB knows that he can't hope to achieve a better price than $1.30 in Singapore.
Why.....his deal with the cornerstone investor has fallen over!!