Ann: Investor Presentation - September 2022, page-37

yup thats my take, raise at 50c for 20% dilution, $1 for 10% dilution or anywhere in between, if people want to compare to lake theyve diluted 50% in the last year going from 1.1bn to 1.7bn (not including off market options and performance rights) to have around 175m cash on hand and holders (often downrampers here) dont seem to care about that, ASN raising $100m for 20% dilution gives ASN less SOI than lake with enough cash on hand to fund their part of the finance and that dilution IMO wont massively affect us when the MC is 3bn for example ($2.70 vs $2.40)