In other news, water is wet, ice is cold, the sky is...

In other news, water is wet, ice is cold, the sky is blue.

Capital raisings are dilutive and it doesn't matter how they are conducted, the institution running it always gets a good slice. Unless Investors continue to add shares to their holding, they will always be diluted away. That's no different to a bunch of entrepreneurs setting up a company with an equal stake, finding 12 months down the line they need to raise more case, with one having to sit it out because he needs to money, as a baby is on the way.

This methodology allows BRN to raise capital without constantly going cap in hand to the market. It beats a loan, that's for sure (If BRN could even get one)