Another way of looking at it is pre trading halt market cap of $279 162 000 add $32 650 000 for new assets (cash) equals $311 812 000 divided by new shares on issue 540 million = 57.7 cents a share
Why on earth will should it fall to 52 cents when the maths tells me it may only drop .8 of a cent plus the up side of now having an extra 4.45 cents cash backing
This raising hasnt diluted us much at all and IMO put us into a much stronger position de risking us further, well done to the board.
MEO Price at posting:
58.5¢ Sentiment: LT Buy Disclosure: Held