Paddie5 you're right, but BLU was smart enough to do an institutional placement as well. If they just had the SPP and the share price got pushed below 4c then we'd be up s#!t creek without a paddle. The institutional placement alone will keep the lights on for years so if the SPP fails then no matter it was just a bonus (probably to pay bonuses). BLU management has shown in the past they could care less about dilution. I have a feeling it's going to be business as usual for a long time.
Will be interesting to see how many punters flog off 330k shares above 4.5c (anchoring the SP) to buy them back with the SPP, sure it might be oversubscribed but who cares about a lil drop in their holdings to finally get a tiddly return from this dog. I know I will be...
