Why not? They raised enough, the minimum necessary. Only the RiverFort deal fell through. Had we had had 2m more it would have been enough. But it was very clear pickup was not going to turn out great for existing shareholders.
Production from u/g would have meant a p/e <1 even after going up to 2bn shares.
TRY Price at posting:
3.0¢ Sentiment: None Disclosure: Held