Loan Funding V Equity issue pros & Cons

Thought this topic is worthy of its own thread !

So they have in place a signed sealed and approved loan facility for $65m that will need to drawn upon in this quarter ( if it hasn't already ) they also have another $35m available to go towards funding the Port and Rail , but this seems to be the least preferred option reading between the lines of the company anns on this topic.

They have been issuing more equity post the $2.50 SPP in December in contra deal payments at $2, why issue stock at these prices ? why issue stock at all when you have the loan facility ? Some on here have hypothesized the arrangements may have been agreed to prior to the loan being finalized - Maybe so lets run with that theory for now.

Correct me if Im wrong but all the previous share issues were ratified at last years AGM so the company should have regained its 15% quota for issuing more stock without share holder approval - if thts the case they should still have the option to issue north of 30m shares.

So will there be another equity issue ? will ity be for 20 or 30m shares ? what would the price be - $2 , $1.75 , $1.50 ? maybe we should run another tipping comp as it looks like the DSO shipping one is going to run out of live punters very soon