is this a buy?, page-19

lmjasm1, one way to work it out is to add $85m in capital raised (assuming CDU gets the whole amount), to the market cap (currently $358m). So, you get about $440m. Then try and compare it to other companies at the same stage of development, to try to establish if CDU seems about right at the current share price -> market cap. The market only goes on market cap, not share price, so you have to work out what it will be when the new shares come on board.