Just looking at the VWAP for TOR: 13.4cps last five trading days 13.6cps last ten trading days 14.3cps last month.
Assuming a maximum discount of 25%, that would give a placement price somewhere between 10 - 10.7cps. Maybe a 1:2 free option to sweeten the deal? If the "imminent" results have not been received, there is hope that good results may lift the current sp. If they have been received and not released because they are poor, i wish they would just do the CR now before the sp slips any further. There is ~$2m in the kitty so maybe they are considering a further drilling campaign?
Sell side is pretty thin as you'd expect with so few SOI but there is very little buying support or reason to stump up the 14.5cps on offer.
