goes up by 69% and no one comments !, page-12

Their last cap raising, the ones the Koreans pulled out of which started this whole disaster, was going to be at something like 53c.

Until this ann came out they were staring down the barrel of having to do the next one at 5c. I still think a cap raising is the absolute last resort unless they can get the SP back to at least 20c. Even then it will result in heavy dilution.

But they really don't have a lot of other options. They can try and sell non-core assets but who would even buy the North Surat JV for a decent price? Never mind Kingaroy (located in prime farmland that's already ruined Cougar Energy) or their 30% stake in Hume (full of anti-development rich people with Alan Jones as a very vocal and critical spokesman).

There are a few other assorted Surat tenements but to be honest I think they'd be lucky to get $10M for Kingaroy, Hume and the non-JV Surat tenements altogether.

They simply MUST sell down the stake in Baralaba. With the new, significantly smaller capex requirement even selling down to 62.5% would go a long way.