Ann: Advanced Carbonatite REE Project Acquired, page-125

placement @ 10c for $3M plus $0.7M @ 10c from the directors subject to approval
so at current SOI 60.3M the total SOI has increase by about 50%
if this placement is done at later time and if the s/p is at 20c the SOI will only be diluted by 25% or if it's at 30c (SOI dilution is only 16%)
I still don't see any benefit of having the CR just one day after they acquire (option) this project, this only benefit to those who participated in this placement, so that their holding can be increased more than if the company do a CR at higher s/p to raise the same amount of money.

even though I don't like this CR, I still bought in this morning base on that it opened higher than last closing price, and is at/above long term moving average, also the placement @ 10c should give it plenty of support at low 10. IMO.