I would not be surprised to see a raising of $40m but I think...

I would not be surprised to see a raising of $40m but I think .60c is a bit low. If we accept those figures then on wednesday Ags closed with a market cap of $234m and 274m shares at a price of 85.5c. They issue 67m new shares at .60c making a notional market cap of $274m with 341m shares and a notional share value of .80c. Perhaps a little depreciation because of dilution but this money has a clear target and all shareholders new it was coming if we didn't get taken out first.The issue will also put a lot of shares in play and help flush out interested parties. We could perhaps see a placement to a strategic shareholder instead. Looking forward to monday.