This is an indication that management is well aware it's virtually impossible to tap equity markets for double your market cap.
I had hoped we'd get a finance package before the quarterly. Absolutely needs to be before the next quarterly or game over.
Straight debt isn't going to happen as the risk/return profile just isn't there.
I'm largely confident someone will take a punt on us and offer up a package that will primarily consist of highly dilutive con notes (4c-6c) which will act as a drag on the share price for years to come, but if everything else goes to plan will be worth it long term.
BAT Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held