sorry mate, but that is rubbish."Firstly, capital raising is a...

sorry mate, but that is rubbish.

"Firstly, capital raising is a dilution of our assets. This follows from the capital raise completed last year, which, if completed 2 months later could of reduced the dilution impact. Why would CVN not wait until after D3 for a capital raise? Clearly the duster last week hurt us bad, so why dilute now?"

and what if the testing and flow rates aren't as expected?
would you prefer a raise at say 29c?

"Secondly, last year Adrian Cook stated he was against a capital raise. This action has gone against his comments at the AGM. He stated there were other fund raising options which he preferred such as Debt or bringing in JVs on other projects (e.g. Buffalo)."

it's a dynamic industry.
perhaps at that time that option was seen as a possibility... with buffalo taking longer than expected, perhaps a CR is what fits best.
still too early for in debt in my mind... once the FID gets the green light, bring on the debt, but until then it's best to wait for cash flow on the horizon first... inmo

"Thirdly, as articulated by posters when Quadrant was a partner, we are in a program that can be manipulated by the major partner. Santos can dictate the program to CVN, essentially continually diluting the company. I suspect now we are susceptible to a takeover at a very modest price."

we are always subject to a take over, the CR has changed nothing there... if anything it strengthens the balance sheet and forces a predator to pay 10c extra for cash backing!

"Finally, this action has ensured a stagnant share price until the completion of the FEED process, end of 2020 (best case scenario)."

it was this comment that prompted my reply... what absolute rubbish!
by the end of 2020 there is still D3 appraisal, Buffalo, Labyrinth, 3D seismic, Apus, Pavo... all of which will be critical developments in their own right...
and let's not forget the last raise... Sp at 36, raise at 33c and it shot straight to 40c never once touching the 33c CR price... that doesn't sound too stagnant to me.

to claim a stagnant share price until the end of 2020 is a little short sighed don't you think?

announcements for CR's always bring out the whinge from those who can't see the bigger picture through the offering.
i'm glad that AC can.