7c rights issue - 1 share per ever 2 held...Scratching my head a...

7c rights issue - 1 share per ever 2 held...

Scratching my head a little at this one:

Positives: OLY can now fully repay the Territory Loan, and adds extra $$$ to keep things up and running for a few more months, will be interesting to see the revenue generated over the next quarter.
Kiernan must be kicking himself now - more cheap shares on the market, wonder if MK will take up the rights issue???

Negatives: The independents valued OLY at 20c+, a bit rich of them to come back and push out a rights issue at 7c based on that valuation - obviously they had no alternative so egg on Mangements face at the moment.