Sure the oppies won't kick until/unless the sp gets...

Sure the oppies won't kick until/unless the sp gets significantly above 5c...but instantly add another 98million shares for a acquisition which we know very little about, and we now have 255,307,455 shares on issue, for a market cap of ~9.45m at 3.7c. Is the company worth that? Dunno, but my gut feeling is that the sophisticates will pump this with some well positioned support in the low 3's, but will be happy to dump at 3.5-4c, in order to take their ~15-25% profits. 98m is a lot of shares to churn through, so I wouldn't be expecting 5c anytime soon...
Not the worst cap raising I've seen, but not a lot in it for long term holders. Sure, there's the right's issue at 3c, but that's in "Stage 2", once the company has already been diluted from 157m to 255m shares by the sophs.
For the long termers still holding I sincerely hope the drilling goes well...we don't want TEX to end up like MOG today geeeeez, and just before xmas...