Yes, you are right: 4.05c, not 40.5c. Sorry, I was dreaming...

Yes, you are right: 4.05c, not 40.5c. Sorry, I was dreaming about 10 bags ;-).
ARDOA was 2.9 yesterday, today it is 3.2, even higher. This would lead 3.9c placement price, even cheaper. Regardless of the minor detail, the point I am making is that the placement price was not 5.5c, it was far lower.

The ARDOAs should count for something, especially that in a couple months they may be worth two current shares, in which case the sophisticated will get their shares for nothing. I sometimes think that all placements should be done to present holders or to the market in an entirely transparent way, rather than doing deals with the sophisticated ones, with the shareholders and market not knowing what's going on and how the deal is made. But that's just me.