News: SMR Stanmore Resources Conducts Equity Raising To Fund Acquisition Of BHP's 80% Stake In BHP..., page-26

Not personal advice but I think it's a no brainer.

If you don't want more shares sell the rights and profit.

If you want to buy more shares but don't have the cash, sell your existing SMR and use the sale proceeds to buy a higher number of shares back again. At the close of $1.73, you would get 57% more SMR shares. Sell the remaining rights and take the cash.

If you really math it out you can sell both your existing SMR shares and some of your rights and max out new shares.

For example, say you had 10000 SMR, you have been granted 23333 SMRR. Using close prices of $1.73 and $0.47 you could sell 10000 SMR and 5330 SMRR to raise $17300 + $2505 = $19805 then use the 19805 to exercise the remaining 18003 rights so you end up with 80% more shares.