Bruce M is underwriting this thing so there's no chance this will no get over the line.
The cynic in me (whenever I see a rights issue shortly before a re-rating) screams out that it's simply a grab by the privileged few to secure more shares and pump cash into the company.
Yes - if you don't participate you'll be diluted but this is the game we play.
I have personally been up in NT for a few weeks and I can tell you that the rain has been atrocious. Come with the territory.
WDR Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held