Yes I very much agree that's the most likely scenario now....

Yes I very much agree that's the most likely scenario now. This also means the share price might go down by upto 20% as a result of the dilution so a 1.1-1.2 is likely short term.

Then depending on cashflow from sales we should see the sp move higher to recognise the change in fundamentals. My thinking is that a target of 2.5-2.7 is the next level where we have a reasonable amount of resistance.

All in my opinion of course. GLTAH