Ann: Appendix 3A Consolidation of Capital-MNQ.AX, page-16

With a close pre consolidation of 1.4c this is about 2.45c post consolidation

So a 2c placement is 25% discount to the previous close so that's about right. Wouldn't like to see the raise being done at lower than 2c

Another test of whether it is too high , try ringing Patersons who are noted as the lead broker for it and see if you can register your interest in the placement . If you can't get any feedback usually means it's gone and so clearly people are not shy about paying 2c

I think 2c is spot on and as a previous poster mentioned this gives it a EV of only $9M

I guess we all wait till sept