Have read through the meeting document and it looks like management is confident of what they have in the ground at Arcadia.
By the time PSC needs a CR, existing shareholders would have greatly benefited already, which should offset any dilutionary effect
1) What's great to hear is that any future CR at minimum 3c will be used for:
2) Also, management performance options won't vest until SP is at least 3c over 20 day VWAP. You can say that management have a vested interest in bumping up the SP now (esp given they were paid peanuts in 2014 and 2015...)
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