Ann: Proposed issue of securities - BKT, page-8

Shame the options are unlisted. At a strike of 20 cents in 2 years time there'd be a few of us that would consider buying a few at the right price?

The biggest takeaway is it seems like (hopefully all but at least some) of the equity part of the capex requirement will be funded by a project level partner process, that is we sell a percentage of the project for the funds we need, rather than have an equity cap raise. Great news as should be less dilutive for current shareholders. It may also put a floor under the share price, for eg if partner company X is prepared to pay $100m for 25% of BKTs share of the project then the remaining 75% would likely be valued by the market as worth $300m.

Bit surprised BKT management has been so upfront and specific about a project level partner in the announcement. They must be pretty confident???