I don't know of any law that restrict OAKTREE to less than 15% ownership, again he is having a lend of you. Just like, it was EQR that walked away from QIC and the big one that they are cash flow positive from operations.
The 1 for 1 options is a giveaway to me, that they are raising from who ever and will give them the cash and will likely dump to get there capital back and keep the free options with no capital at risk.
He said "The re-issue of raising has been a cock up" You only know about the original terms because he "cock up" and posted a link.
The whole raise and need for it is a cock up. If they are only able to raise 4 million it will barely hit the sides because when you look at the mine plan there is no chance that they are cash flow positive at this time and that before any wet season/cyclone related issues.
EQR Price at posting:
5.0¢ Sentiment: Sell Disclosure: Not Held
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