$20-$30 million is a fairly big range, sounds like a plcement to...

$20-$30 million is a fairly big range, sounds like a plcement to instos and sophs to me.

Just a question of price and how much skin they want in the game.

Given that KS would likely (but not necessarily) be diluted by a placement I'm sure he wants a premium to the current share price, otherwise he would just say "tap the holders & I'll underwrite it".

Does Alwyn & team have the nuts to ask for $2.20 from the instos for a stake?