Placements are a bit like SPPs, just because you've sent your...

Placements are a bit like SPPs, just because you've sent your money off doesn't mean they have to accept it. Investors applying for shares in SPPs are quite often scaled back. The contracts always have "outs" for the company. One thing we do know is the placement has not been finalised yet as per the suspension notice.

Assuming this new entity wants a reasonably big quantity (they wouldn't bother if it was small), if this was known on day 1 of the book build, the extra demand would have resulted in a higher placement price. IMO they either need to accept this entity's request and raise more than they were intending to at the original price, or redo the book build at a higher price (or reject their request which hasn't happened).

As numbatgumboots pointed out, the company had already raised (oversubscribed) what they needed, to go into suspension for 2 weeks must have meant this entity was bringing value to the table and is positive for shareholders.

We know they are looking for partners in the GA and have seen considerable interest, they have spoken of the S African customer wanting 200kt offtake, IMO this will be related to one of the things they said to watch out for in the last presentation.