Yes Ironbark would probably need a CR, as it would be funded...

Yes Ironbark would probably need a CR, as it would be funded through debt and equity.

BPT funded acquisitions at 50-70c (from memory). Its share price would rocket to $2.20 shortly after.

So long as the CR is value accretive, then this is not a bad thing.

Notwithstanding my view above, when an analyst asked ID about Ironbark - he mentioned the AFR was simply "stabbing" - i.e. guessing.

He mentioned that as he had previously stated, management were constantly reviewing opportunities that fit SXY's strategic mandate.