I can think of three reasons pertaining to the raise as per the conditions of what the broker told the alchemist is the full story ( which will be cleared tomorrow):There may be others and from the novels I read, I feel like a crew member during a mutiny.
- They perceive the JV negotiators are trying to delay to push them to the line on cash/ liquidity so they will no longer be able to negotiate from strength.
- They need the money to seed a Hog's ranch float.
- Macquarie are playing both sides off against the middle. I stated immediately they were selected that - the only people who benefit from Macquaire deals tend to be Macquarie. I do note that Macquarie's revenue is down and they have flagged more difficult trading conditions.
Still, I'm happy to wait and see and more tolerant of angry sentiments from posters in this case as I feel for long-suffering holders. I intend to play the ball not the man (as if I had any choice).
All IMVHO.
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