@instructmba system will not allow me to directly reply to your...

@instructmba system will not allow me to directly reply to your question.

I am not going to guess at SPs.
Much easier to interpret data grounded in fact like historical costs, future cost of production forecasts and shipping volumes etc to determine revenue and liquidity.
I share information and readers are welcome to evaluate and adjust my numbers and speculations as they see fit or dismiss my posts entirely. I have made clear I actually appreciate being called out if I've made an error as it is to my benefit, also my own position regarding the company outlook is flexible with every new piece of information available.
I assume you talk of the benefits of an equity placement outweighing the size of dilution, by providing viability to the company's future.
I see it as potentially another raise to cover interest, financial transactions costs, working cap and any potentially minimum liquidity covenants required to satisfy note holders. Perhaps it will go so far as to allow some exploration to take place.
Indeed I would not be surprised to see the size of debt held by financiers to increase from the most recent announced figure of US$143 to absorb the Feb interest payment of approx AU$16m (based on previous payment size and data from the financial statements showing the amount assigned to cover interest in the Sept Quarter P&L statement - contained in the Dec announcement). This in itself could be considered quite favourable.
My assumption is the SP will move based on sentiment and emotion. Perhaps there will be a relief rally, or alternatively the SP could align with the equity placement price.
But no, I will not provide a WAG as to an SP figure.