That's right HEG have the right to place the unexercised 55M HEGO, one assumes that they could allocate that holding to a cornerstone investor i.e. committed long-term and/or strategic - someone may be interested in a stake in a potentially very large resource base and low cost operation and $10M for that position may be very attractive.
Didn't they just appoint an experienced M&A lawyer as a director? Maybe just a coincidence?
I'm not for one moment suggesting they just throw the placement out there and leave a huge overhang in the stock.
Just my idle thoughts.
value, page-11
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