Lets put it this way. AGY gives a little at a discount as a...

Lets put it this way. AGY gives a little at a discount as a marketing tool to get some broker support on market and give them a taste while also giving holders a last chance top up in a SPP at a discount. Plus Billy gets his 708's in so he is happy but just enough so once this heats up on Chinese funding they are hungry for more and buy on market as AGY becomes more derisked and it moves to a producer from a developer. This shows significant confidence by the board that a Chinese deal for phase 2 is a definite and close or they would have gone for a bigger placement and issue to holders to get more in the kitty for phase 2 developments without Chinese funding.