Anyone following the threads here would know a few posters have copped a fair bit of vitriol for daring to allege Bowen weren't going to make it without having to defer debt or tap the market again. This latest unfortunate raise really settles it - and amazingly they've had to defer debt, close Bluff, and tap the market.
By my numbers (here:
https://hotcopper.com.au/posts/70164867/single), if they do raise $50M at 9c then in just over a year they will have done four capital issues for proceeds of $195M. The problem is they have completely blown out the company structure; they went from 1.558B shares on issue to 2.21B shares up to today. If the AFR is correct then they'll be adding another 555M shares just to raise $50M. Hopefully nobody is still listening to those ridiculous 29c TP reports from Shaws...
