re: Ann: Non-Renounceable Rights Issue for St...
I think knz56, Thadius and others have hit the nail on the head with this one, its all about finishing the feasibility with minimal dilution to increase the chance the well out of the money management options can be converted in 2010 and 2011.
The directors would also know IFE's market cap is out of touch with their WA peers (in a similar way VMS was at 18c), hence the small cap raising at limited discount.
Ann: Non-Renounceable Rights Issue for Stage 1 Pr, page-14
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