Ann: CXO: Strategic Inv.in Charger Metals and the Bynoe Project, page-11

That doesn't matter, Li Australia is doing a CR at its rock bottom share price at the moment, so from its point of view getting a 1.2mil for by discharging CHR shares and rights is valid.

All charger has to do at this stage is exercise its preemptive rights to get 30% interest by spending 500k to become 100% holder for Bynoe projects, that way CXO is locked in to pay much higher price for CHR, remember CXO still knocking the door which CHR doesn't' want to open until it ups the ante. read below from CXO words