What about if this isn't a retail capital raising? Instead an institutional one, they place 250m shares at 40c to an institutional holder (in return for $100m obviously), who'll become a substantial holder, funds to be used to drill and further increase resource.
And some from left field:
Funds to be used to acquire new project, which will generate income within the next couple years allowing the company use that income to cover some of the project costs.
OR
A 1 for 10 options entitlement issue. expiry in a year or so, cost of about 10c per option allowing current holders to buy options (exercisable at lets say 45-50c) today company raises $27m now through options, then on exercise in a year injects more cash into the company.
So we wait until Thursday and see 'what-up'
SDL Price at posting:
43.5¢ Sentiment: LT Buy Disclosure: Held
