Ann: TNG Announces Share Purchase Plan and Options Offer, page-104

I've been keenly reading all the posts - keep them coming!

My "hope" is that this is the last CR before the main event. Perhaps this cash injection is needed to pay for all of Gresham's work, legal fees plus the work of other consultants. Remember things seem to be ramping up and so previous quarterly cash burn rates would be far less than what is required going forward as we approach the pointy end of securing finance.

Personally I don't think this is a "mums and dads" litmus test. If it were then that would indicate the equity raising will occur at the TNG level and not at the project level, which would be a disaster.

The exercise price in the Ops appears to be low. I just "hope" this is there to reward long term holders before the main event. Even then, expect some fairly material dilution of the TNG share price if the Ops are seriously in the money (i.e. TNG share price skyrockets). I guess for those who take up the Ops and hold on to them, they should be better off once the TNG dilution plus Ops price increase is netted out.