It will need to raise multiple times for the next 3 years until...

It will need to raise multiple times for the next 3 years until 2021, that’s a given. The market already knows this.

At this level, under 40c, I think it’s a speculative buy. Disclaimer is that I’ve got a rather large portfolio position for LVT, a speculative stock, as my portfolio mainly consists of higher risk stocks.

Happy to risk this 5% of my portfolio to evaporate if it fails, and double to 70c if they succeed in achieving what they set out to.