Found this article on-line Geoff Gander discusses not wanting to capital raise while the share price is low
Jupiter losing orbit
Your intrepid columnist spoke to Jupiter Energy’s chairman Geoff Gander, while his company’s shares were in free fall. The would-be Kazakhstan oil and gas producer has a great deal of potential, having been granted two production licences. But at 45 cents, its shares now stand at just over a third of where they were in March this year.
Jupiter (ASX code JPR) has started trading on the AIM market in London this month, but has not raised the $30 million or so investors anticipated it would need.
Gander, who in another life was a Perth-based IT entrepreneur, says the company could exist without raising money with its $10 million of cash, but the long and the short of it is that it won’t go anywhere, unless it gets its hands on more dough.
“It’s a long road to Cairo and (not raising money) is probably not optimal, but it’s pointless to raise large amounts at the current market cap. It would be far too dilutionary,” he says.
Read more: http://www.smh.com.au/business/neon-energy-set-to-shine-20111201-1o9an.html#ixzz1fp6HAwZh
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