Cap raising is not an option, however it is not as simple as sell or bust. Cash flow can still cover interest, and minor sales might prop it up. In this case I would say the SP up side is fairly minor as value will continue to get eroded with financing costs, dilution etc. However as they have already said they will not sell at any price.
The more I contemplate it the more I think a best case scenario is a solid 50% sale. 100% at good value just seems to me unlikely given everything else we are seeing.
BBI Price at posting:
6.8¢ Sentiment: None Disclosure: Held
