Just looking at some observations, not including the possibility that Orbost is a good buy @ price being paid,
MC prior to raising at $0.315 / share was $514M
with the hefty dilution after all is said & done @ the offer price $0.245 the MC will be $644M,
with a fair bit of debt gearing, that has to happen 4 Manta cleanup & exploration costs to get Athena output somewhere near its 150TJs /day output.
.....these points alone don't appear to be a great argument for participation in the retail offer, lucky it's fully underwritten.
I can see the sp going 10 to 15% below the offer price in the near term JMHO.
History of company killing issues, hopefully the raising is the impetus for a positive future, but its still a long road.
I challenge anyone out there to to provide some constructive positives, cause I'm all out.
....Tax time Hooray!!
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