capital raising of $45m, page-6

I hope you are right UpsNdowns. If it gets to 90c I'm selling the house, the dog the wife and everything to raise funds to buy as many as possible!

Yes dilution hurts but there is time and additional costs involved in a rights issue. Think of this way, I doubt an institution would buy at 95c to simply cash in at $1.04, more likely bought at 95c because they can see long term value. Just for example, if a placement buyer wanted a 20% return (not excessive) that means the buyer would expect a price of around $1.14 sometime in the next 12 months and if the outlook remained strong then the buyer is likely to hold on indefinitely.