$79m shortfall, page-29

Shadow I agree with your last post ! yes IMO pepole are still better off buying the heads now for $1.89 rather than the options at 61c but that wasn't the point of your post you said the company has raise $56m at a 31% premium to the current share price- Your statement can only be factual if you believe the options have no value. As Zedster says these are the numbers the company themselves apportioned in the prospectus. $1.89 heads 61c options

I actually do concede the cash has been raised at a premium I value the rights on todays price at around 18c so $2.50 - 18c = $2.32 so around 22% premium on my formula of the value of the options but the premium using the companys 61c valuation is Zero.

paying 60c for a 2 year option on a $1.90 stock with a $2.50 conversion is way over the odds for me - And No Bret Im not even a buyer of the options at 18c - Personally I still reckon the minis offer better leverage with far less premium.

Disclaimer not investment advice just my opinion on the math using different volatility rates on the blacks scholes valuation model