positive news, page-80

As a rule I'm anti CNotes and equity drawdown.

But in GGP case I don't see an alternative. They need funds. The only other option is to raise the full amount now at a discount to current sp. But isn't that what we just did at 0.5c rights issue? And that was a failure. So I don't see trying to raise $7.5mil at 0.4c being a viable option.

So we get left with these kind of facilities that influence the sp and create downward pressure. It's better than GEM because of the higher cap. But even if they aren't immediate sellers, how do you think market will react every month when millions of shares are added to the register.

Most 3B will probably be met with a selldown. At 15% discount to vwap it will prove to be expensive funding imo.

But if in 4months the leases are extended on a more permanent basis and oil is flowing then perhaps we have a fighting chance of a sp recovery.