TCL would use both entitlement cap raising and funds from its partner(s). Regarding cap raising, Charlton said in today's Fin Review Smart Advisor:
Q: How are you planning to raise capital for it? Charlton: If we were to be successful in Queensland we would be looking at preferencing an entitlements issue to our existing shareholders.
On a separate note, Bell Potter's Charlie Aitken yesterday added TCL as one of the stocks he thinks wold drop if there is a pull-back (he's predicting at least 5%) because TCL has many investors with large profits. Aitken thinks momentum stocks would suffer from overseas weakness. But I never thought of TCL as a momentum stock (like CRZ, SEK), more of a defensive that underperforms growth and over performs on pullbacks (one reason why I bought more earlier this week).
TCL Price at posting:
$7.16 Sentiment: None Disclosure: Held
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