Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-103

Stepping back from the minutiae of the CR and looking at a more macro level:

Now we know why the SP collapsed on the MK2 ST1 discovery announcement.

PAC knew beforehand, with a shadow of a doubt, that IVZ would be conducting a CR immediately after the MK2 ST1 announcement so they sold enough shares to scare retail investors and depress the price ensuring they would be able to shortly buy back via the CR placement with free options attached, at a bargain basement price.

13 cents is outrageous!!

I am sure SM thought the CR placement would be around 25 cents, but his hand was forced.

Im not saying SM was part of this manipulation by PAC, because there was no doubt he was as confused by the SP dropping as everyone else. But he lacks the financial savvy to protect shareholders from these dirty tactics.

He is hopeless in this regard and needs to fix this weakness asap because IT WILL HAPPEN AGAIN.

The CR should have been done before the discovery announcement which would have prevented the SP drop on the MK2 ST1 announcement and the subsequent manipulation that occurred.

Much better to have a CR priced in before the discovery announcement. And for the chorus of inevitable 'no-one would support another CR before a discovery': you are 100% wrong there would have been enough support to get IVZ the funds it needed to flow test, another drill and for the 3D instead of this nonsense we now have of just being able to 'prepare' for the 3D.

What does 'prepare' for 3D even mean ???

Once the placement is finalized the manipulation will start again and the SP will rise sharply before PAC cash out their head shares at a nice profit and keep their free options.

Watch the volume traded as the SP starts to rise, it won't be significant volume, just enough to keep pushing the SP back up to around 20 cents before they sell out to unsuspecting retailers who think we are on our way north of ... checks my notes ... $2.40

Mr $2.40 plays a minor but important part in this nefarious scheme and his ramping will become unbearable as the SP starts to recover back to 20 cents.

SM needs to get a battle hardened CFO and engage EH from here on and protect ALL the shareholders going forward. His blind spot is hurting genuine investors.