bendigo,
I agree with your calculations. I take cap raising as a good news as opposed to administration ( this case shareholders will get nothing). now the key is what price they will do cap raising. I don't think it will be less than 6.7 cents.If we recalculate using your calculation guide we might have NTA closer to 15Cents and with US properties recovering slowly, NTA will increase over time.
The only problem most of us will face in forking out addtion funds. But even if you can double your holding , you will be okay in mid to long term. Atleast that's what I am guessing.
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