I speculate that the bonus announcement is a means of pushing up...

I speculate that the bonus announcement is a means of pushing up the share price, since each existing share is now worth another half a share, up to the issue date, even though after the issue all shares will decrease in value if market cap remains the same.

Maybe sometime soon JRV will draw down some funds from that placement faciiity they established recently, using this enhanced share price to minimise dilution from the placement ?

Those still holding JRV shares after all the price erosion suffered in recent years are probably not that inclined (either because of faith in the company or apathy) to rush into the market to sell their bonus shares, so the bonus issue may not result in a precipitous further share price decline and it may not bolster liquidity that much.

But these thoughts are just my speculations ...... would be interesting to know what our chairman's strategy is.