I for one am not happy. If H1 is a duster then the SPP will fail and if the well is a success then the SP will be discounted by 30-40% because of the serious dilution that will have occurred.
Had JH waited until more proven results were known then the dilution would have been much less and the cash easier to raise. By crushing the share price now the company has been made more vulnerable to a potential take over at a lower price. In one fell swoop JH has destroyed my confidence in this company to the extent that you may read on hot copper in the future about some mythical capper holding the price down. This could well be me.
MEO Price at posting:
21.5¢ Sentiment: LT Sell Disclosure: Held
