I am still trying to get my head around why the oppies are so...

I am still trying to get my head around why the oppies are so cheap. We have discussed liquidity and maybe a rights issue.
Any rights issue however would be probably no more than a 20% discount to the average of the last ten days and then would be a one for five, one for three at most with the sophs coughing up the most of the funding.
So at (say) one for three at a 20% discount puts the oppies at around 2.35c based on a head share of 3.8c.
Only an example, who knows what the funding deal is.