Development cost over 5 years @ $10k/hectare = $610m (51k x 1.2 hectares). At 30 cts, new shares to be issued = 1.67b; @ 40 cts, 1.25b
Would shareholders from BPE and IPT agree to such dilution?
For minimal dilution, if (100-63.7=) 36.3m new shares were issued,@ 30 cts x 36.3m = $10.9m (1.78% of 610m) or @ 40 cts = $14.5m (2.37% of 610m), this amount is just too insufficient.
ORT Price at posting:
0.0¢ Sentiment: None Disclosure: Held