I'd guess 1 but only because my belief is that the raising will...

I'd guess 1 but only because my belief is that the raising will be done at 20c on a post consolidation basis.

This is obviously 0.8c now and my reading of the announcement was that they would do the raising at 20c on a post-consolidation basis, which is what the deemed price is for the TLM share issue.

Of course it wasn't spelt out so directly but I can't see how a discount would occur, given that this is such a new direction and the cap raising will come with the consolidation.

In any case there have been plenty of willing buyers at 0.7 and 0.8c and probably only 1 or 2 big dumpers. As long as the bidders keep coming back I'm content with my position and tempted by any on offer at 0.7c.