How to light the VINVA fuse...

If Adrian wanted to create absolute mayhem for VINVA he could do any of the below.

1) Arrange a large revolving credit line with a local bank (ANZ or Macquarie) that unequivocally guarantees no cap raises for at least 3 years & will cover CVN's share of Dorado development.
Interest rates are at an all-time low and he stated at the AGM banks are open to lending to CVN.

2) Sell a 50% interest in Buffalo or go whole hog and sell 100%

3) Sell down a stake in Dorado.

Either of the three options  above (or a combination) would create a major event for CVN.  

At the end of the day - VINVA is simply betting that Adrian is going to be forced to do another capital raise before (or shortly after) the Dorado FEED.  

Thats when they plan to cover their giant short bet (53M shares so far)

Rightly or wrong - Adrian has never held back doing cap-raises (Recently 13c / 33c / 39c etc).  
All these were done at a discount to the market.  
VINVA are simply betting he will do it again.

The minute Adrian rules out a future cap raise - VINVA will be forced to buy on market.

That will create the burning short squeeze we all want to see..  

Its not rocket science..