Quote Originally Posted by winner69 View Post
Raising $350m new capital when current subscribed capital is $430m (with along with $170m revaluation reserve of $170m gives total equity of $600m) is pretty telling

And still heaps of debt will remain
and the raising is to be kicked off at $2.75? I wouldn't pay $2 for the shape Z Energy is in... income uncertain and in recovery mode for the next few years, no dividend now till (crossing fingers) FY22 and dividends unlikely to be as big as they were for a very long time, 6 cent NTA topped off by a terrible balance sheet post capital raising (putting it lightly)