IVZ Share Price, page-1795

I personally don't see any reason to pump the sp atm. I'm very happy with 20c for where we are at.
I think there are a lot of traders who are having a bad hair day.
We are not drilling for another probably 10-12 weeks.
In the next 6 trading days we will know if CEA goes live.
I suspect IF they don't then the sp will be pressured by those deep pockets expecting a large CR.
I HOPE management are not playing in to their hands and IF its not CEA then announce another party IF there is one.
IF not then out the seismic numbers and raise the cash and go it alone as quickly and cleanly as possible.
IF as I suspect the resource upgrade will be big, Big K-1 to 10 tcf + and A-1 big with likely a bigger oil presence it will not give the insto's time to think or trash the sp for VWAP.
Raising 35 million will take about 3 hours with the above targets IMO.
The only qualifier I have is it will have to be underwritten IMO, whether it be a rights issue or spp. If its underwritten it will not be renounceable rights issue the underwriter will want to clean up any left overs.
I suspect the underwriter will want at least 2/3 so ~ 23 million with the rest for shareholders. I personally don't hold out too much promise for shareholders getting a look in at all if its go it alone.
The bad bit will be the dilution.
The good bit will be no more uncertainty around finance and hopefully resource numbers and the sp can run wild in to spud.
Of course the problem with all this is any insto underwriting this will want the deal before the upgraded prospective resource numbers to get the shares as cheap as possible.
That is the tight rope Scott will have to walk but given he has over 70 million shares it effects him more than anyone else so I expect the best deal possible what ever happens, be that farm in, go it alone or cornerstone.