I guess it depends on what you think the sp would be on spud with no CR and SI dumping. We have gone from 20.5 to 14.5 and raised a guaranteed 7.5 million. This is simply the worst raise in the history of stupidly timed raises. It would have required 25 million extra shares at 12c to raise the same cash as this raise. Difference is we would have had ALL the money banked. Fact is if this well is a no show then SI vote down tranche 2 and get their dough back.......biggest free kick in the history of free kicks IMO. Has anyone ever seen anything like it?? Its plain as day to me now they completely cocked up their math on shares issued with approval and likely committed to PAC for 100 million shares only to realise that they couldn't issue them.
IVZ Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
