I'm sure it counts for something (better than *not* having a big...

I'm sure it counts for something (better than *not* having a big backer), but I wouldn't overstate the importance.
ENG is 70% owned by channel 7, hasn't helped them any. ABS had some pretty large stakeholders, again, no good.

Many holders would support a capital raising provided the company provides a very clear plan for how those funds will be used. Meaning don't leave us guessing whether another cap raising might be required in 6 months, what forecast capex is etc. If copper goes the way of zinc though there could be trouble. But what can you do, they have diversified into three metals, it's out of their court by that stage.