RLT 0.00% 72.0¢ renergen limited

Hey mate the AUD$500 ebitda is converting into AUD the ebitda...

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    Hey mate the AUD$500 ebitda is converting into AUD the ebitda projections in the March 8 Phase 2 guidance Note announcement from Renergen.

    Any future dividends would be per share across all exchanges (ASX JSE and Nasdaq) and obviously the less dilution and shares on issue the better so the dividends are higher per share.

    Today there's about 145m shares on issue combined across the ASX and JSE

    Renergen announced from memory a max of 67.5m shares to raise US$150m for the Nasdaq IPO. That would need the shareprice at an US$2.22 equivalent

    Phase 2 US$1.15b in capex needed approx.
    US DFC US$500m loan
    Standard Bank US$250m loan
    CEF - about US$50m investment for 10% of Tetra4 - no Renergen shares I think
    Nasdaq - max 67m new shares to raise US$150m
    Leaves further US$200m to raise later

    The further US$200m won't be needed till some stage after the Nasdaq IPO as I understand it. Funds hopefully could be raised in a non-dilutive way such as pre-sales via pre-payments for liquid helium ideally as closer to Phase 2 production and if any via further shares being issued hopefully at a much higher shareprice then today as Phase 2 should be much further advanced so hopefully trading well above AUD$4+ equivalent on the Nasdaq for instance.

    So absolute best case 145m + 67m = 212m shares on issue down the track with Phase 2 paying dividends but possible we could end up with 250m + shares on issue depending on how things pan out.

 
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