Wow! How wrong could I have been about no cap raising. Really thought the potential partner might bear a majority of costs in exchange for a high portion of the acreage.
I don't think we should be too distressed by this however. It's been my personal experience that more times than not, you're rewarded by participating in discount shares, within the 3-6 months following the cap riasing. LML last year, for example, was a huge play for me.
I would expect a 2.3 - 2.5 issue price. This would offer a discount incentive to the current price and not issue shares at a ridiculously low price, with positive announcements in the winds for prospective buyers...
It does make y/day's price spike seem a little convenient though.
NWE Price at posting:
3.1¢ Sentiment: LT Buy Disclosure: Held
