@loki01, Before the sale of Ravenswood, with the build up in...

@loki01,

Before the sale of Ravenswood, with the build up in short interest, I gave a high probability of capital raise.
But after the sale, CR looked unlikely. The last few trading session had me thinking as there was no sign of short covering...rather it was still pushed lower.
Now we know the reason.

Johny Boy has done it again.

As a shareholder, I can never be happy with dilution.
Yes @colinchi & @worzel1 were right with their CR assumptions. Hats off to them.
What I am disliking the most of this CR is the timing. They should have done with the MAKO Gold acquisition, especially when the share price was much much higher than today. I can understand management thought they could repay the loan quickly with cash flow generated. It didn't happen that way. What's done is done.

$185-190 million new money pumped in the business.
$146 million underwritten and $25 million from ICM limited, $15-20 million from SPP.
The debt load will be lot less.
With things heading in the right direction, RSG will be debt free quicker.

As about the share price, it will head lower, most certainly visit $1.10 and lower.
I will be buying again at that level.
For now am holding what I have. Still expecting the share price will be pushed higher $1.40- $1.50 by the end of JULY 2020. This fresh new money is not pumped in for a losing cause.