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11:15
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Originally posted by jakspara
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terrier i agree in the ST, 11.5c x 0.485 = 5.5c. STX reportedly raising $13 - $15 million from inso's and a further $5 million from existing shareholders (this is not officially from the company as yet, but term sheets doing the rounds within the s708 circle).....if true, as all signs are pointing to, this represents a large dilution to STX's existing holders (myself included) and therefore will create a massive overhang to churn through.....9/10 times the SP heads back to or below the raising price. So i agree, when all is said and done a value of 5 - 5.5c is probably closer to the mark.
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having just read up on STX was about to post something similar. Unfortunately your analysis is correct and I hate to agree. But I would not be holding my breath on that Cooper Basin project with that flare unlikely to light up your cigarette. The results look very underdone with a long way to go - will easily eat up the SPP proceeds.
