I don't think it is a discussion about whether they can get more...

I don't think it is a discussion about whether they can get more shares for a cheaper SP, it is whether they can get the same shares for a lower SP.

They can go over 19.99% with shareholder approval, but an independent expert report would be required for the notice of meeting. 

FIRB will not be a problem. They are a Korean investor and it isn't a sensitive asset (like a port i.e therefore related to security). Thresholds for Korean investors are already higher than for other foreign investors (similar to the US, Japan and some other countries we have close ties to). I don't know if FIRB is needed for this deal (there are some special approvals required around companies that have mining tenements etc, which could be triggered), but if FIRB was required it would not be an issue - it will simply require time to be processed or re-processed if there is a price change. If the government rejected a deal like this is would be crucified. Most FIRB approvals sale through no problem, only a handful are knocked back and they are very public and usually political decisions.

Once suspects they can't buy on market because they may have inside information. But if the market were cleansed they could buy on market (and if FIRB was needed they could get this confidentially without the Company knowing). But, I think they would rather the Company receive the funds as they are not so interested in holding 20% of the Company, but rather seeing it get to production for the product.