Ann: Priority Offer Letter - Aurum Resources Limited, page-23

Correct me if I am wrong but if ARN already owns the tenements that Arum will explore why are we being asked to pay 20 cents a share for something we already own? I like the prospects for ARN - in fact I am very bullish about the recent drilling and the signs are positive in my opinion but I don't like this deal for Aurum. I won't be taking up "the offer" or in my opinion "the insult". It is quite possible that when Aurum floats it will fall from the delusional IPO price of 20 cents.
I accept that ARN doesn't have a mountain of money but asking holders to pay again for something they already own is not a great way to get people to take up the IPO.