Yeah, it's a true Blue play though. The only 'positive' is that they didn't attach a whole lump of free options - to really maximise the dilute.
The question for me is simply, how does this raise tally with the narrative around an imminent gas pipeline? Surely, when that's announced the sp will rocket (a million vehement HC posts on this surely can't be wrong!) and a raise could be achieved (if it were even required - as potential better options would open up) at a much better rate?
The ducks are not lined up.
BLU Price at posting:
5.5¢ Sentiment: None Disclosure: Held
