Whether you buy on market or via the shareholder offer might...

Whether you buy on market or via the shareholder offer might depend on your circumstances. In case it helps, consider a couple of scenarios.

If you are looking for a short term trade because you think the share price might get a kick up when a new MD is announced, then you might wish to buy on market at 3.0 cents and then be able to sell at say 4.0 cents when the MD is announced for a quick 33% gain. If you are looking for a quick trade, then you might avoid the shareholder offer because those shares will not be issued to you and available for sale until 30 May.

If you are looking longer term because you want some upside if a JV partner is signed up and think the price will go higher than 10 cents, then if you bought on market at 3.0 cents and the price goes to 10 cents, then you have only made 7 cents per share. However, if you bought via the shareholder offer and the price goes to 10 cents, then you have made 11.7 cents per share, being 6.7 cents on the share (10 cents less 3.3. cents) and 5 cents on the option (10 cents less exercise price).

Consider why you might buy and whether buying on market or shareholder placement will benefit you more.