Ann: Half Year Accounts, page-10

Because they are running out of cash.

TS won't dilute himself, there will be an issue as payment for his services that maintains his holdings. (Some would argue that it is his job to arrange these deals)

My finger in the air figures are
8c - 10c for the speculators the days prior to the announcement. (Will be suspended the week before)
15c on a good announcement, up to 20c on a great one with some assurances.
25c on a dividend.

In reality, it will more than likely find out that this was con from a Central African prince's email offering TS the chance to get help him get 175M worth of Cobalt out of his inheritance. Down to 1c and a cash raise forthcoming.