JrowL, the market cap won't increase from this raising- it is...

JrowL, the market cap won't increase from this raising- it is likely to stay at the level when the raising was announced, if not lower. The share price/raising price is a moving target. Say the raising price is 3c - 3.5c, and then MOL need to be repaid- either in $3m cash, whereupon the cash falls again in repayment, or in $4m shares, whereupon there will be further dilution (about 15%-20%). Either way, UML is likely to end up around the same market cap until something good happens- and there is loads of potential for that.

UML will be in a happier place in the CBA funding comes through, and as POG goes up, the chance of that is more likely.