Ann: Quarterly Activities Report, page-181

Thanks Dugsab. I certainly agree with you that there is clear suspicion about the timing of this latest CR and nobody should be surprised that those involved are wanting to get as many shares as possible at what has been this low price for nearly all of 2018. "They" have been playing games with the SP for years. In fact, we should all be asking why they had to issue CN's @ 15% p.a. especially if they say that they have undertakings to raise all of what they require especially as they also say that they have undertakings for the balance. They have only actually raised $1.08 million so far, it would have made some sense if they were just about to announce that they have the TOA and needed the cash to pay the ML costs and it would not have looked so "suspicious" if the announcements of the TOA and ML were made soon after. Two months have passed since the CR was announced?
But, I'm concerned why you are implying that the CR will be taken up by those who need to "get some of their $16 million back, actually into his pocket". Tell me how they would do that other than by selling their shares thus creating a further doubt that another massive overhang now exists to the SP.

I see that you reckon that the VWAP will be significantly higher after the conclusion of the ILUA negotiations and presumably after the ML is granted. Are you being VERY optimistic there?
Sure, those two occurrences are probably the last of any anticipated "spikes" in the foreseeable future. Be interesting to see what you think they will be.
My question was specifically about SB. Surely if your are thinking that SB will be taking up enough shares to "get some of that back" that would most certainly raise the ire of your Takeover Panel who have already intervened when SB was substantially increasing his share of the company by similar means? I don't think that SB will be too heavily involved to risk that again.
Furthermore, what does that say to all shareholders when our own management and Directors are potentially diluting the IC by a further 20%+ for their own interests? Gets curiouser and curiouser or should I say, messier?