i think they thought 27 was a enough of a discount to get $500M...

i think they thought 27 was a enough of a discount to get $500M in 48 hours in a tough market, as it turns out it appears to have been mispriced badly as demand is so high....they probably could have done it at $30 and still got $500M....

I tend to agree with Michinyon, it is not as dilutive as the last raising in 2007. The purpose is different, it doent seem that bad , save on interest, remove FX loan cost risk and bring forward production which should actually increase earnings....(thats how I see it anyway)

(gold doing well in AUD dollar terms tonight 1472, well past last years high in AUD terms i think.)