Believe me, I am absolutely wrapped with progression so far and current management. I also recognize the necessity of raising funds to keep the lights on and fast track the ramp up of progression.
I don't think it's unfair however to state that if the raise is at the above terms, it does seem like cheap returns to the new investors depending on how it's been raised. It really depends on what's announced.
If this is to one institutional investor, there's no additional brokers commission attached (ie the $3 to 4 mill in shares at 4c encompasses the total dilution from the raise), the new investor starts providing coverage then it makes a lot more sense. If it's going to Morgans or similar I'll be a very happy man and can stomach the lower strike price on the options because I have no doubt we'll see share price appreciation quickly.
I am incredibly happy to be riding this EQR train and likewise to you, I only see substantial growth in the mid and long term.
EQR Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
