Ann: A$315 Million Fully Underwritten Equity Raising Launched, page-41

Another aspect is to how they were going to get ~300 million? Any type of financing has costs to it. A CR gives us the money straight away and does not need to be repaid and doesn't attract interest. So whilst there are more shares the company is now (theoretically) worth 300 million more as that is cash on hand.

So at the moment the market cap is 334 million, crazy if you ask me but let's delve a little more. Over 500 million has already been spent on Mardie and near 100 mill in the bank.This raise would add another 315 million and thus without finance around 900 million spent. Divide this by 3 bill gives you ~ $0.30.

Even though Iron Valley has some doubt to its future some value must be assigned to it and also the other potential payments or royalties from the iron ore projects.

Let's not forget that within a few years the endless revenue will start to flow in and increase and increase over time until they reach a steady state. Even if this only generates 200 mill of profit a year(they reckon more like 250mill a year) using a conservative P/E you can get an idea of what the company is worth.
Rough calcs give approx $1.00 - $2.00 per share (P/E 10-20) not factoring in S.O.P and Iron ore assets.

So I don't think you need me to tell you the what the potential returns in the near future may be for shareholders. Not advise but look at who else is throwing in for this and follow the smart money ( I'm sure they are not planning on throwing thier money away).

Good luck all - (I hope you all get a good size piece of the pie)