Nik, they're not.They will raise capital only if necessary, ie....

Nik, they're not.

They will raise capital only if necessary, ie. they have an acquisition that requires more capital than they have currently budgeted for, or they need to develope a mine i.e. Bogdan / Monty proceed to mine.

If any of the above eventuates, then the share price will have already been re-rated when the capital raising is undertaken.