new hope opens its big, big purse !

New Hope has just announced it will invest $4.8m in WCL, plus participate in the 1:1 rights issue, plus underwrite any r/i shortfall up to a s/h of 19.9%.
it accepted placement at above market prices.

last time I looked New Hope had like $billion cash? PLUS it will soon get another $500m-$600m? from Shell/Petro if the Arrow t/o proceeds.

My comment is that we are again seeing that NHC still has a penchant for CSG shares - so I think BOW may well find an equity participant in NHC and its co-investor Infrastructure Capital Group, if BOW looks to further develop its "commercialisation" strategies ie power stations, LNG plants ( ie F/L ???).

There is clearly money ready to invest.

cheers