Gave you a TU for your last paragraph
@Surfie
My mind boggles at the comments I am reading where PEN can raise at a higher SP to minimise dilution later on. My mind boggles. Retail will again get crumbs and insto's, and potentially soph's, will get the lions share which will likely then be sold for a quick profit over a short amount of time or they take a small loss and still take home the fees and free options
As a retail why would someone not want to purchase more shares at a lower SP, regardless if that means some dilution, as it seems to me people don't want to try and maximize making money? As I said my mind boggles, but each to their own
In relation to the figures you have put up they are a bit over the shop, I wouldn't be using $200lb spot (much lower) and comparing BOE to PEN is silly as BOE is leaps and bounds ahead of PEN especially in terms of management and production metrics/financials
If I have some time I will look to put up some back of the envelope numbers
