I'm trying to guage the extent of future dilutionIn theory and from what they are saying, they can utilize the governments contribution and the 40 or so mill of cash on hand, to take care of the equity component and use 60% debt for the rest of the costs of even 300 milion cap ex price tag.
Trouble is I've seen time and time again when companies like this will do an equity raise for now other reason than they can. It make no sense of course when one looks at the NAV.
Put it this way the nav per share at these levels is ridiculous, which when coupled with the fast payback and low costs, makes this a great buy at these levels. Trouble is I don't want to buy a swack and here about a private placement of 50 million units with piggy back warrants, adding 75 mill in dilllution for say 1.50 a share a week after I buy in.
Anyyone able to get a read on management with reguards to credibilty and or their outlook as far as possible dillution gong forward.
Thanks in advance