RE: First gas timeline - Galactica21 Dec 2025 10:53
I like the premise of "an end result of self sufficient revenue generation with zero debt" as Blubay suggests. I can see how this could be achievable.
I got the impression that dilution wouldn't be off the table though, as the company wants to remain opportunistic. I agree with Graham Jacobs that not all dilution acts as a liability, it does however drop the share price in the shorter term, which can hurt the shareholder, unless the share price trajectory is (a) already heading significantly north, or (b) the market recognises the value that the dilution could create.
Personally, I would rather they stay of using cashflow generation with some loans) and avoid dilution in the next 18 months where they can.