Agreed Waldo currently 257.9 Mill shares.To raise another $600...

Agreed Waldo currently 257.9 Mill shares.

To raise another $600 mill would need to gain 1/2 in borrowings (Stated) + $300 mill in shares = 600,000,000 shares at 50c (857,142,857 shares at 35c).

If we are talking a 10/1 consol, the best case (or maybe not if we raise at higher price eg. 60-70c) the total would be 857.9 mill shares reduced to 85.79 mill after consol. At 35c there would be 1,115,042,857 pre consol, or 111,504,285 shares on the register in total after consol.

To me both numbers are very low, am I wrong? Are there many companies around with this small a register? Also consider that obviously a split would be prior to raising, so to buy in it would cost investors either the $5 or $3.50 mentioned above after a 10/1 consol!? Is a price that high not quite unattractive to potential investors? $5 at the moment is more than a Fortescue share and we are not there yet!

Correct me if I'm wrong, I often am!?

Garn