Agreed, de risks both parties. However, I think most of us...

Agreed, de risks both parties.

However, I think most of us priced in 3b circa SOI post full financing. Right now 2.7b SOI after 400m options likely exercised so we have 300m shares to play with to keep SOI under 3b. They mentioned 40% equity finance of $USD53m ($82M AUD) so $32.86m AUD equity. They will need to raise at minimum 11c per share to keep SOI under 3b, which will be extremely unlikely unless they raise a year at least after they start producing so SP can recover.

Hope they play it right to avoid an absolutely disastrous dilution. I am just thinking out loud here, would like to know other's thoughts.