cap raising, page-2

Faulty logic/maths.

Assume BPT only value DLS at 3c (more fool them, but we're guessing they know it's worth a lot more). Anyway assume 3c, a 1:1 at say 5c raises the value to BPT to 4c, not halving it. The only way the value would be halving is if they GAVE THE SCRIP away and then it wouldn't be a capital raising would it? Or are you suggesting BPT don't assign a value to cash?

Anyhow, the raising won't be at 1:1 or anything like it (I'm more thinking than hoping). Much has been made of the fact that we have one of the top O&G capital management guys in Oz running the show here. The fact that it's taking longer than planned means it's either massive or tricky, (I mean complex rather than deceitful). I'm hoping the latter, ie tricky.