IMO, it all comes back to whether you believe in the project or...

IMO, it all comes back to whether you believe in the project or not.

If you do, you will try to participate in full in the CR as it is a cheap entry, and offers continued proportionate ownership of the company.

If you dont, you may as well head out the exit door now

RRI are never taken up entirely, that is a given. there are always reasons why. This RRI is going to have 2 factors playing on it.

1. TRF participation - if they do not wish to exercise all their rights (which is what i believe will occur) then they will need to offload them off-market where possible. I'd presume that, as part of the capital raising discussions, there would of been a significant period of time spent analysing this issue. My gut tells me they lined up a few instos to pick off a bunch of their entitlement offmarket.

2. cash cost to holders - adding 50% to your investment isnt always easy for investors. accessing cash to the extent of ~11 mill from holders will be tough, but not impossible.

I assume there will be a shortfall, but that will be snapped up quickly IMO.

I will be participating 100%

cheers
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