Completely agree Split, I understand this doesn't meet everyones expectations and is not a sure thing but it is AN INVESTMENT.
If it was without risk, without dilution, only then would investors be happy to push the price up from mid 80 cents? As Ian (I think has mentioned) a comparable company in or near production would probably have a market cap of ~$200m.
I think the fact that insto's have bought up $5-$6m odd is a positive and the fact the share price is currently in the 80's indicate that this is still a reasonable outcome, otherwise why would anyone buy now above the rights issue price?
As Split said, as for IFE, they have said to current shareholders, YOU get the first right for ~86% of the capital raising at a discount to the market, if you don't want it, then you can sell it.
Regards, W.
TYX Price at posting:
82.5¢ Sentiment: ST Buy Disclosure: Held
