Hey Yaq..... what sort of discount do you think it will take to attract a White Knight into taking up a 15% share placement?
Last time ESG did a placement it was at 84 cents when the share price was averaging around 89 cents. It hasn't been back near 89 cents in the last six months. On current levels ESG would be flat out placing shares over 70 cents each. So in total the most they might raise is around $100 million.... just like last time!
Problem is that often existing shareholders get pretty annoyed with Boards who make placements like these. Santos may find they have plenty of dissidents siding with them.
"Maybe Santos is working cooperatively with ESG to commercialise our gas? Shoulder-to-shoulder, arm in arm"
Better the devil you know than the devil you don't?
ESG Price at posting:
72.5¢ Sentiment: LT Buy Disclosure: Held
