OK great Analysis... so lets say the project is of $350 million...

OK great Analysis... so lets say the project is of $350 million and they do cap raising 60 /40.. Equity 40% which is approx 120 million. 

Agreed that previous cap raisings were around 3 cents but it was only 20 to 30 million value wise which will be 10% of equity they need for the project.. i believe 90% still required in terms of equity massive dilution ahead.... so now the price is hovering around 1 cents and if it goes further down.. then it would be in the interest of potential investors to even look at it.  Again if GPR is the which can do cap raise like this.. then probably they wont go for equity.. which sadly Ron stated that there will be equity component. Also if GPR has still sellers like pacific road left on there books... then good luck to share price. Top 20 would be itching to sell now and keep some cash for the mammoth capital raising.