With the recent announcment of the 1:1 15c excercisable option...

With the recent announcment of the 1:1 15c excercisable option issue for every 20c rights issue taken up we are left with an average price of 17.5c for the package. The stock at this moment is trading at 18c and the plant is due to come on-line so the rights issue looks very attractive from here on.

Being creative, you could in theory sell shares obtained at a premium down the track and use the proceeds/ profit to excercise the 15c option and be in a far better position with no additional outlay.