murchison capital raising, page-2

I think a small capital raising would be severely detrimental to shareholders interest right now. It would slam the already weak SP down to whatever the offer price gets set to in the short term, and dilute holdings in the long term.

That being said, they've still got $70m of undrawn credit, and they can finance the interest payments on the $30m outstanding ($3m per year) with income from Stage One of Jack Hills.

I think cash flow would be okay for the next 12 months. If OPR and JHEP doesn't get off the ground in 12 months, it'll really be game over MMX.

Sad day.