Aside from any CR limitations imposed on the Board by current...

Aside from any CR limitations imposed on the Board by current market conditions (eg: the prospect of there simply being no appetite to inject new capital at any given time - the so-call "closed raisings window"), there are ASX listing rules limitations that are also acting to limit POS's near-term raising capacity.

SHs expecting/hoping to see a cash-replenishing CR are advised to consider the following:

1. In any given FY, subject to a number of exceptions, the Board can only increase the number of SOI by 15% without the approval of its SHs (we'll circle back to this).
2. Special resolution approval may be sought from SHs to increase the 15% limit by an additional 10% to 25% (i.e. Listing Rule 7.1A exception). This extra 10% was proposed prior to last year's AGM (i.e. Resolution 15). However, the resolution was withdrawn shortly before the AGM, so it wasn't formally put to the vote and, therefore, doesn't apply this year. (My view is that the Board most likely saw enough online proxy voting immediately prior to the AGM to know this resolution would be defeated, so yanked it from the voting agenda. I digress.)

So, sans any additional 10% limit, the company is currently bound by the 'vanilla' 15% limit this FY.
(NB: The limit can be reset by SHs at an EGM if push comes to shove. That would be a 'spicy' meeting.)

Calcs:
Opening SOI Balance (FY24): 3,404,031,000 (2023 Annual Report, p.73.).
plus 15% New Share Limit: 510,604,650 (i.e. max. new shares without SH approval).
Max. SOI Balance (FY24): 3,914,635,650 assuming 15% limit fully used.
less Current SOI Balance: 3,713,534,776.
Current Headroom: 201,100,874 max. new shares before EOFY reset or EGM approval.

Rounded down slightly to 200M max. new shares for ease of illustration> Possible raisings might look like:
200M @ 0.5c = $1M max. raise.
200M @ 0.8c = $1.6M max. raise.
200M @ 1.0c = $2M max. raise.
200M @ 1.5c = $3M max. raise.
200M @ 2.0c = $4M max. raise.

In order for a raising to be effective (i.e. carry the company with the required cash top-up until the dilution limit gets reset (in the new FY) and the dilution cycle can start all over again - yikes!), a SH must hold the view that all of the following preconditions will be met, in order to make it all work:

1. The raisings window is currently available or will be available when required (i.e. the "go/no go" gate).
2. There is a reasonable prospect of the SP cooperating to enable a sufficient raising that when added to the current cash balance enables the company to limp into the next FY, thus resetting the annual limit whereby that the dilution cycle can start over (double-yikes!).

That's razor thin. Further weight of evidence on why asset sales are most likely the path of least resistance.