they could have easily made a rights issue VERY ATTRACTIVE to...

they could have easily made a rights issue VERY ATTRACTIVE to EXISTING shareholders by attaching a 1 for 1 or 1 for 2 long dated option as part of a capital raising.

Did the board really do the hard yards to source funding at a 'better' (better than 12c) price? I gues we'll never kn ow.

For example, why not get a loan from the end buyer - the party with whom the off take agrement is made - that is not uncommon?

BBY have strolled late in the piece,when the fire had started in the board room and said here's a 12c fire extinguisher - take it or leave it....money for jam for them.

I reckon there would have been plenty of wealthy off shore private investors interested in this story.....