GTO21,CTP was the first company in Australia to use such a...

GTO21,

CTP was the first company in Australia to use such a feature.

They are also well-capitalised at the moment, and emerged from the GFC looking healthy because of the capital in bank, and because they didn't need to borrow money to restart their drilling program.

If you look back to the announcements when the Bond Facility was created you will see that it was touted by the company as a coup.

I'm not worried really about dilution. But no one has proposed any information on what it costs to do capital raising.

To me, I think it makes a company look somewhat unprepared if they are doing frequent capital raisings. I imagine, should a cap raising fail to receive significant interest that it would have a negative impact on the company - both in terms of PR and future planning.

CTP are lucky, they don't need to keep raising capital every time they want start a drilling schedule. They don't need to keep advertising themselves for the cap raising, and holding their breath, hoping to raise as much as they need. They can PLAN because they know they have the bond facility. They can raise extra cash through cap raising when wanted, and use the bond as a fallback.

The Bond facility reminds me of the Churchill quote about democracy. He said "Democracy is the worst form of government in the world, except for all the others".

No one has shown any costing on other forms of equity provisions. Many people are complaining about the bond, but no one has yet provided any concrete, costed alternatives.

Go ahead, please - provide one!