Ann: Trading Halt, page-146

Yes, not a comment on share price performance which cannot be disputed; nor could anyone argue with them bringing NAL online both in timeframe and on budget, impressive. Am looking forward at dilution on EPS, or even just on future capital returns (i.e. the more they raise, the ever-lower the SP needs to be just to sustain say a $2B market cap). Anyway all hypothetical until it becomes clear how much they are raising - hopefully it’s minimal. People wanting a big raise for M&A aren’t realising that would be an uppercut to the SP returns right now.