I thought about that, who is to say they won't capital raise? They may just wait and issue shares to trafalgar at a later date. They may issue a few now and a few closer to spud or even during drilling when the share price is higher, thus minimising dilution? You could be waiting for a capital raise for a while...it wouldn't suprise me. Either way, it won't be a huge capital raising.
paa farminee, page-27
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