If lawton raises money here he will have seriously irritated his shareholder base after telling them he would not raise below 73c where the merger offer was.
There are many alternatives to an equity raising (none of which make money for his advisors, so obviously none of them will be telling him to that) like selling assets, loans from the partner, accepting the merger offer, selling part of the project or finding a third party to share the JV.
Selling shares down here with gold vaulting up every day and the market finally starting to move is insanity.
Also if he does a placement to new institutions and doesnt offer it to shareholders and dilutes them, it will seriously irritate the existing holders.
Frankly I would prefer they just do the merger deal, get all this nonsense out of the way and get back to work developing Bullabulling.
AZX Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
