I can think of three reasons pertaining to the raise as per the...

I can think of three reasons pertaining to the raise as per the conditions of what the broker told the alchemist is the full story ( which will be cleared tomorrow):

• They perceive the JV negotiators are trying to delay to push them to the line on cash/ liquidity so they will no longer be able to negotiate from strength.
• They need the money to seed a Hog's ranch float.
• Macquarie are playing both sides off against the middle. I stated immediately they were selected that - the only people who benefit from Macquaire deals tend to be Macquarie. I do note that Macquarie's revenue is down and they have flagged more difficult trading conditions.

There may be others and from the novels I read, I feel like a crew member during a mutiny.

Still, I'm happy to wait and see and more tolerant of angry sentiments from posters in this case as I feel for long-suffering holders. I intend to play the ball not the man (as if I had any choice).

All IMVHO.