My calculations was the drift from 94c to SPP price of 72.5 c...

My calculations was the drift from 94c to SPP price of 72.5 c The essence of my calculations was to Compare at which PE multiple Pgc managed to do the CR In 2015 PE Was 16.5 now 2018 at PE of 11.7 This is a reduction of 30% ( not a bad multiple, but highlights how good was the first raise) simplified 2015 Eps of 3.2c raise capital at 53c 2018 EPs of 6.2 c raised capital at 72.5c . My view is that By only considering the discount you get to the last share price traded , you miss the bigger picture of assessing at what PE Multiple PGc managed to raise money