the whole point of the raising is to unlock the value that people are expecting from EEG's carpentaria-1 well. if dilution was such an issue the raise wouldnt have attracted 30 cents with nearly 50% over-subscription. the price has been oscillating between .29 and .34 for a while now.
you are talking about a 10% dilution. do you realise what the "capped upside" could be worth? we are talking hundreds of millions here, maybe even in the billions.
yet you think because its been diluted by 10M, which by the way they received 10m in cash for, is going to cap any upside expected from their carpentaria-1 well?
its not "as simple as that" im afraid.
either way- both sophs, institutions AND management didnt think it could cap the upside if they put in $11.7M. they would be laughing in your face thinking how cheap they got these shares at in relation to the potential value of EEG.
gltah and dyor
EEG Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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