The SP was run up from 4 cents on no news so I don't really consider the raise was done at any discount and in fact they payed a hefty premium. Another 100 m shares to add to the register so fully diluted TNR now has 1.4B SOI giving it a market cap of 70M$ @ 5 cents. The resource upgrade will have to be spectacular to get this to 10 cents but something tells me the directors buying is a hint that it will be. IMO.
Ann: Proposed issue of Securities - TNR, page-74
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