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Hi SSkim,

I've suggested previously it may be a case of the big 3 buying as they'd been told no further placements would be needed (anytime soon) due to early cash flows from NCu prod. If the primary Crusher system is installed and commissioned as per schedule early next year could see this play out.
If this were to happen the sp would then better reflect the 'true' value of the business, and possibly allow a final placement to round out shares to 200M. A final placment made at that point would be considerably above the last one imo as WM is negotiating from a significant position of strength. See what happens i guess, its all specualation on my part.Cheers