Poor form from management, with the impending LPIO option expiry and the company potentially about to receive 37,526,323 options x $0.55 = $20.64mil in cash, why undertake a further capital raising?
Would it not be prudent to wait until the end of this week to see how many of the LPIO's are converted?
Why would you not just have Sprott or Cannacord underwrite the LPIO's to ensure that the full $20mil is received. Would of been a low risk play for the company and the underwriter with their analyst being so bullish on the project with a $1bil+ EV.
Chinese cornerstone or funding to take our Bearing will be the only positive reasons for this IMO
Ann: Trading Halt, page-2
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