Hyperdynamics Corp (HDYNQ)

[sahd3g]

Money raises like that are about always done at a discount...very standard, very normal.

Cash burn vs drill results is the problem. Evidently Ray doesn't have quite as much leverage as some of us thought for the near term. 2500M or total depth, or some success at Sabu are needed...or HDY was facing a cash raise at much lower prices...

Could have been much worse. Yesterday was just a bump in the road...and another 5% or so dilution to future upside...