On the surface, i think this has been constructed fairly well, although i would have liked to see the raise price a little higher.
~$35mil already raised and an opportunity for holders to capitalise appears win win.
Short term, there'll likely be sellers screaming dilution and "raise price 15, so that's where I'll buy" but with the 1 for 2.6 in play, it's half a chance not to even fall to 15.
The added shares to the registry were always going to be a thing for this company to progress and in the scheme of things, this still leaves room while providing huge added value to the Co. and project overall.
Insto investment is always encouraging too.
Even with the added shares, i'd still back this to 45c-50c in the short term and that is without considering a possible re-rate.
CAP Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
