He's not buying into the ASX vehicle he's buying an external 10-20% of the project (pt gulf mangan)
If he buys 10 mill on market it adds no value to the project (I'd be surprised if he doesn't own shares in GMC too)
This allows him to forego a lot of the ASX associated risk whilst still getting a seat on the board.
Do you think we'd be (in) trading (halt) @ 4.2c if we just raised USD10 mill at 20% discount to vwap as others have recently done
GMC Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
