Given our current Enterprise Value per Tonne (circa 30c/tonne)...

Given our current Enterprise Value per Tonne (circa 30c/tonne) valuation it would make much more sense to do a partial asset sell down then a capital raising given we got 90c/tonne for Woori.

CFO Peter Nightingale quoted in the AFR today as stating that "We do have other parties that have expressed significant interest" and "Until this morning when SK withdrew we were subject to no-shop, no-talk provisions, but these provisons have now fallen away."

AFR states that a placement to a cornerstone investor(hopefully again at a premium with a knock out funding solution) also on the cards.

I would think that a general SPP would be the least preferred option in terms of funding costs (i.e. dilution at a ridiculous raising price), timing and limited scale.