There's been no suggestion of a capital raising, and I certainly...

There's been no suggestion of a capital raising, and I certainly can't see Masterman - or any of the other shareholders! - voting for one with the current share price. They might be able to speed things up with some extra money, but they have enough cash flow from Sillaro and Castello to fund the current development plan.

They've hinted at a farm-in for one or more of the prospects, but that seems unlikely to eventuate, since it was in January that they had a data room open for evaluations and there's been no followup. And that wouldn't be dilutive - or rather it would dilute the ownership of the resource asset base, but it wouldn't change PVE's capital structure.