Unfortunately I have to agree somewhat with what Ozblue said yesterday. I think we might be weighed down by the fact that we still need to raise more cash at some point. If the insto's can get in at 15c vs 20c they will want to achieve that.
So let's look at this way. We may need to raise another 40-50m. At 15c that 266-330m shares. Would take us close to 1.5bn shares on issue.
NPV value in the early years allowing for increased pricing of Spod vs PFS might be $500m. That is equivalent of 33c. I expect us to start tracking towards that post DFS, BOA and funding package. So in the next 12 months.
If they can raise at 20c means 200-250m shares issued. So probably makes a couple of cents difference.
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