I agree - I think it's a total CEO wizard move.
1) No debt
2) Fast money to make hay while the sun shines
3) New money for LOM before cash flow starts
4) Good for the BL
5) New shareholders - who are they...???
6) Better share registry
7) If it goes under 1.03 you can top up at better then the instos
8) Plus all the other behind the scenes stuff going on we are not privy to.
9) Minimum share dilution
All in all I can't see one negative!
Well done and it's a class move IMO - plus might burn some shorts.
Ann: A$100m Institutional Placement, page-113
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