I'm expecting a fair amount of dilution. I was just thinking last night about what the unacceptable commercial terms were that the bond buyers were demanding and I can only assume that it was significant hedging of production at current soft prices which are bellow the US$4.08 or whatever it was that was used in the restart study. In the current financial environment it might come down to a choice between heavy hedging demands from lenders or raising a substantial amount of the capex through issuing equity or both!
CYM Price at posting:
11.0¢ Sentiment: None Disclosure: Held
