RE: A recap13 Aug 2025 14:16
Most calculations base the TNAV at 1.75p but this doesn't seem to be where this SP is heading anytime soon. I agree with your maths but this isn't how this is working out I'm afraid. Speculation, optimism, market predictiins and government policies seem to have this wanting to rise quite significantly which is why the company seems confident the dilution only has a relatively modest effect on the SP. It will drop today and maybe tomorrow but then has an ability to keep pushing back.