Ann: Completion of Share Purchase Plan Raising-AJM.AX, page-204

I wasn't going that sinister. I was more thinking another BOA, or Lionergy trying to negotiate equity funding for mine construction or something along those lines. I don't think it is a hostile take over. AJM is not a shorted stock so the shares are coming from someone who has supply. Which means they are either losing shares or selling predominately to themselves to drive the price down. Either way they probably aren't getting themselves enough shares for a hostile takeover.

But in your scenario I would say the VWAP would still be at least 16c Premium would have to be at a minimum your standard 30%, probably towards 50%. So 21-24c. But I don't think that is the case