I'm speculating there were no takers for a placement at 9c, so they're trying their luck with a small SPP but also running the risk of tanking the sp if the SPP fails, then having to follow-up with a placement at 7.5-8cps.
Happy to be proven wrong and looking fwd to seeing where cash stands in the quarterly, and latest estimated costs for the upcoming program.
Ann: Investor Presentation, page-12
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