Depends. I see two options:
1. Wait to raise
The market knows a CR is coming, so any good news on sales will be tempered by that knowledge and sold into, keeping the SP at a lower rate until after the raise is done. Hence the dilution will come at a low SP anyway.
2. Raise now
Get the CR out of the way, take the hit on dilution now, remove the risk of a CR at silly prices if the sales don't eventuate, and any good news can be fully recognised by the market, allowing the SP to rise as there is no CR overhang.
Ann: Quarterly Activities Report and Appendix 4C - Jun-2024 Qtr, page-59
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