Curious what other people's thoughts are on a capital raise to generate the funds required to commit to the McPhillamys? Simple math would be the current market cap at ~1.461billion and the project cost is expected at 900 million to mean a 61.6% dilution - assuming no additional costs and that the cap raise would finance the entire project. Have they mentioned how they plan to finance the project?
The last cap raise they did was back in April 2021 for 494 million, which had an 86% take up rate via institutions and at a discount of ~15% (offer price @ $2.70) and while the market cap was $1.63 billion. So they are raising substantially more money this time round and at a lower market cap.
RRL Price at posting:
$1.94 Sentiment: Hold Disclosure: Held
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