The raise @23c with 1:1 options@40c is more like a 50% discount from 31c.
Options are worth more in binary outcome situations compared to non-binary outcome situations.
For example, the drill hits oil and the SP 10 bags to
300c? Each option is almost the same dilution as a regular cap raise share.
Absolutely ludicrous raise.
I was sad about selling about 2/3rds of my stake in IVZ around 28-31c, now I'm super happy I sold.
