to put it another way. 50 million shares at 55c will cost them...

to put it another way. 50 million shares at 55c will cost them $27.5M which will give them approx. a 10% stake in MEO give or take some rounding. As MEO have 25% of Artemis, they effectively get another 2.5% of Artemis which doesn't stack up when they could have paid > 7M for 5% from MOG if they wanted a greater share. Of course they get 10% of the rest of what MEO owns but if they really were interested in Heron, Blackwood, Tassie Shoals they would just farm into these.

Simply this is MEO taking advantage of raising now whilst the SP is carrying a weighting for success in A1. The liklihood unfortunately is that it will be not be commercial and if that is to happen then raising at 25c is far less attractive. It is an opportunistic cash grab and good luck to them.