Is it 3 options for every 2 shares, or 2 options for every 3...

Is it 3 options for every 2 shares, or 2 options for every 3 shares? I read it as the latter, which would give an effective CR price of 1.1c.

I wanted to do some calculations later today, but that is an important input to get correct.

tt2000 posted some useful calcs a while back: https://hotcopper.com.au/threads/an...g-agreement.3239243/page-296?post_id=22964027

You can tweak the values yourself, but his figures for A$13m CR @ 1.25c and an NPV of $250m result in a SP of 9c.

If the CR is fully subscribed, the company will have raised A$13.023m @ 1.3c, excluding options.