Talk about jumping at shadows. If they didn't announce a cap raising now then the prospect of them doing one if the deal happened to fall through would have been disastrous and our investments would be in bad shape.
It doesn't show a lack of confidence in the deal it just shows a Plan B which every good business should have. If they wait till mid-Dec and the major surprises by opting out then the SP would plummet and a cap raising would be lucky to go through at 20c.
As for mikayla: "it just gets worse and worse". How so? I think the resource is still there, a major world player is interested and we're prepared to go it alone. (really would like to see the full AFR article - sounds good).
N.B. Major internationals do not go into a new country without a LOT of thought (look at FAR with Shell). The fact that exec management is pushing the Board is a fantastic sign and can't wait to find out who it is...
MEO Price at posting:
54.5¢ Sentiment: LT Buy Disclosure: Held
