Including some working capital you'd need 8-9m. On current market cap that is essentially a 1:3 cap raise. That is prior to any discount. Realistically you'd be looking at up to 40%dilution once discounts are factored in. I'm not sure exactly what $$$ have been spent so far in total, but I have a feeling that giving up a 10% stake (20% of BYE's share) would lower the risk whilst also diluting existing holders less. Really comes down to how any cap raising was performed.
A placement to sophisticated/institutions would see all holders essentially diluted, and worse off than a farm out. A rights issue would see no net dilution to holders taking part, but would be unlikely to be taken up in full due to the scale needed. A farm out would see future revenue lost, but preserve the capital structure. Downsides to everything. Personally I'm hoping for a MEL farm-in as that's where my interests are - but they only have 10m in the bank thanks to a stupid return of capital - so the risk gets quite high that point, given that MEL have already funded the convertible note for the same project.
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Last
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Mkt cap ! $74.43M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 94375 | 6.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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6.7¢ | 73000 | 2 |
View Market Depth
No. | Vol. | Price($) |
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2 | 94375 | 0.064 |
1 | 200000 | 0.063 |
1 | 50000 | 0.062 |
1 | 100000 | 0.061 |
1 | 400000 | 0.060 |
Price($) | Vol. | No. |
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0.067 | 73000 | 2 |
0.068 | 140000 | 1 |
0.069 | 377708 | 2 |
0.070 | 25555 | 2 |
0.073 | 14000 | 1 |
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Last
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Change
0.000 ( 5.88 %) |
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Open | High | Low | Volume | ||
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