Professional and sophisticated investors ... placement to...

Professional and sophisticated investors ... placement to raiseA$1,049,010 ... shares at A$0.034 per share ... 1.7% discount to the Company’s 15-trading day VWAP ofA$0.0346.

But a major premium to the ca. <$0.02 share price of the preceding 6 months.
Before the highly questionable jump of over 100% . . .
. . . in the last 15 trading days.

Been about $25k of quick profit-taking this morning, pushing the sp down to ca. that CR price, so the rest of the "professional and sophisticated investors" (about $1,024,010 worth) have effectively bought on-market. At a "curiously" high, short-term, market price.

This must be some new definition of "sophisticated" with which I am unfamiliar...

Am I missing something?
Don't get me wrong - I hold some (still in the red) and think they've got some promising projects, but . . .