I think since RGS and co have become substantial holders, the...

I think since RGS and co have become substantial holders, the funds would have increased their interest in the company. They like to follow successful mining companies and back them. I think this placement is not required just yet, but its about a bigger picture. Management probably want to suck up the cash whilst its on offer. I would expect a relatively small discount to the price. I think they will use the money and get drilling on a monster level. They know a major deposit is there somewhere and they might as well get super busy. These guys also must want a robust balance sheet and a stronger share register.
A 15% placement might be equal to about $10m or 40m shares at 25c. Just a guess, but that is what i would do around here. That would give them about $16m in cash. please dyor and only time will tell.