Agree on CR fatigue, but we have to remember that the last round of CR was based upon earning only up to 75% of the asset (getting that last 25% for the $$ paid was very cheap - imagine trying to negotiate with WGX down the track on a buyout price).
My only concern is using Patersons again who have shown nil ability to maintain buyside interest post-raise. Whoever does the raise needs to have a good book of retail customers who will buy on the market. Saying that, an SPP and/or rights issue with new investors taking up the shortfall would be the smartest as it will enable long suffering current shareholders (and supporters) to get in at whatever price. If they just repeat the last raise using Patersons and large instos, I'll shelve the stock for 12 months.
