creat resources in reverse takeover, page-9

This is a huge development for all holders.
IS the plan is to backdoor Creat into the controlling position in GXY?

The way I see it, GXY has roughly 190m shares on issue.
Creat already have about 9m or 41/2%.
To go to 20%, Creat would have to buy another 29m shares. Total 38m. - NOTE they are only raising up to 15.12m pounds I assume. or about A$30M.
At todays price on market ($1.20) 29m shares would cost them about $35m (just too much for them, but at a discount, say 88 cents, just enough).

Alarmingly, the article actually mentions "subscribe" - this would mean GXY will issue a huge stack (29m)of new shares (at SAY 88cents)to get them up to 20%. sounds like it eh?
Acknowledged that GXY would get the $'s but are they needed? Thought the funds to develop the mine and plant were already taken care of!! and what will happen to the sp?
ph