still the sellers come, page-14

Giddyup,

Hope this helps;

895 million shares can not be issued....period

Around 185 million is all that is allowed under the ASX ruling which precludes publicly listed companies from having more options than shares on their books.

There is absolutely no way the co can issue the amount of shares that you mention, and such dilution scenarios are very misleading.

The Dilution will be much much less than people think.

Probably 10% of that errant figure.

Yes a sp usually hovers around spp prices in most instances, but considering the re-rate esi should experience very soon, the sp should be more like the pre shorted price, and the mkt cap should fundamentally revisit to 9 figures......and climb from there.

After all,,,,the project is similar in stature and financial timing / relevance to previous mega recession/depression capital works programs.

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I would perhaps expect the final allocation of new shares ( subject to spp approval ) to be in the vicinity of 95 million to 187 million shares ( 187mil being roughly the max possible ).

If say 1.5ish million dollars is raised from underwriting, then there is a couple of million dollars worth (say around 100 million shares that could be allocated in spp )

Ask the q at the gm in the morning.

Regarding over subscription and possible scale back to entitlement;

If the underwritten amount ends up more like a coupla mil, then I speculators run a small risk of being scaled back.

CEO or the Chair should have a reasonable indication of the amount to be underwritten by now and we should all know at the gm how many shares are allocatable for spp.

SPP Entitlement scale back would only be a small risk because it would require 400 share holders to apply for their full entitlement if underwriting was around 1.7 mil and around half the share holders on the register if underwriting comes in at the Fiori level.

My clouded crystal ball and tea leaf gut feeling leans towards 2 point something million dollars being raised in total, and a level of dilution that should be acceptable to all hammered, loyal believers and longs,,,, who have had the majority of their skin slowly peeled and ''grazed'' off.

The spp after all is not the be all and end all,,, the fact that a single Mega csi has come on board must be fully understood....It is absolutely gargantiun.