The way I see it, I don't think Pete has any choice.He deferred...

The way I see it, I don't think Pete has any choice.

He deferred and deferred and deferred while waiting for approval because he was confident that the post-approval share price response would allow for capital to be raised on good terms from new investors. . . . whether by way of placement or convertible note.

Turns out he was wrong. The terms on which money could be raised externally would be no better now than they were prior to approval. . . .and may even be worse.

therefore - i reckon he faces no choice but to minimise dilution for existing holders by pushing the button on a rights issue.

A massive thumb-suck. . . . but i will tip 48 cents.