Thanks all for the responses to this - I've learned a lot.In...

Thanks all for the responses to this - I've learned a lot.
In summary:

1. Yes, my assessment was far too simplistic
2. My interpretation of the 400M/150M is likely wrong - it doesn't take into account the potential of OT pre-payments (among other things), so the amount raised could well be a lot lower. It certainly doesn't sound as black and white as I perhaps thought
3. If there was to be a capital raise, the 0.08 figure used in my example is probably way too low as it doesn't account the positive impact an OT announcement would likely have on the share price (case in point PLL)
4. The potential to stage the outlay may also provide a means of minimising the equity component
5. Yes, others do take into account dilution in their calcs (thanks @Scarpa, I missed that before)

Finally, I think I've learned a thing or two about posting questions on this forum!
(@dossantd, for the record I did ask admin to delete the thread but it was probably a bit late by that stage)

Best of luck to all holders - onwards and upwards!
jl