Ann: $40M Underwritten Placement to Fully Fund Century Restart, page-15

Anyone with a finance background able to explain how this is a better deal for NCZ shareholders than the debt deal with Sprott, or as I suspect this was not of NCZ's choosing?

Sprott deal was subject to DD and meant to be finalised back in November, it remains undrawn. Reading between the lines, it looks like the SRK review was done for Sprott, they've backed out, and a back-up plan CR is conveniently announced.

Reading the SRK report, it doesn't look there were any show-stoppers, it'd be good to know how others read it.