To put it in perspective, approximately a month ago, the share...

To put it in perspective, approximately a month ago, the share price was in the low to mid teens and looking like being on the road to oblivion.

Fast forward a month and we have an oversubscribed placement higher than the price that the actual share price was at from May to Nov.

Yes it is a discount, but the fact that it was higher than the last few months, and oversubscribed is a positive sign. It alludes to the fact that the Soph's on the placement believe the price will stay above 18c, and sets a floor which at least is significantly higher than the last few months.

Of course nothing is guaranteed but, this placement combined with the positive news in terms of commercialisation leads to a pretty good R/R for some multi-bags in the mid-long term.