I don't know that anyone disputes that a cr might be coming but that is a might. They might also simply get the balance required as non dilutionary (debt etc). as guided. If - and that is only an if -there is a cr, there are two things to consider. At what stage might they do a cr? Will it be after or at the same time as a debt package is announced that the market likes and will the cr already be organised as part of that news with an existing or new cornerstone investor that will not be selling those shares into the market? If that is the case, it would be highly likely that the sp would climb rather than be depressed by such a cr because a cornerstone won't sell those shares soon afterwards. Long story short, we don't know if there will be a cr and anyone selling here in case of a cr is only speculating. What will the sp be at the time if there is a cr? What if the fertiliser price rebounds by 20% over the short term? It stabilised last month with a small gain. What if we get some very good news on a partner for the green ammonia or P4 projects? If the sp is at 17c on good news flow and a cr gets done at 15c, does it make sense to sell now at 12c? Will any cr lift the sp because it is gets done with a cornerstone investor that won't be selling those shares. Will a cr be announced in conjunction with plans to immediately expand the plant with increased guidance for year one? Too many unknowns regarding any potential cr to know if it even happens, from what price and if it would result in a correction from that price. Why speculate on a cr when you can just as easily speculate on any of the above possibilities? Good luck with your speculative trading. Sometimes it pays, sometimes it doesn't.
