Ann: Trading Halt, page-3

The 'Institutional Component' is probably Magnus + Manzano

"Shareholders Magnus Capital S.A and Jose Luis Manzano, who have a relevant interest in 13.57% and
8.30% respectively of GMN’s shares, have agreed to each underwrite 50% of any shortfall. The
Underwriters will not be paid any fees.
The maximum voting power Magnus Capital S.A. and Jose Luis Manzano may reach, assuming no
Shares are issued to others (an outcome the Directors consider unlikely) is 23.34% and 18.06%
respectively."

It looks like (imo) if nobody were to take up the offer, Magnus & Manzano would control 41.4% of GMN which could lead to a few implications such as dismissing the current BoD/Mgmt whom appear to be incapable and unwilling to take up the Options they previously held which would have injected vital cash.
The only thing they seemed interested in doing (again, imo) was cashing in 100's of millions of the 'free' shares they were given for the multiple tenements and 'multiple exciting prospects' over multiple metals.

I had mentioned on another thread a few weeks ago that existing holders would possibly be facing a 25%-30% dilution which was pretty much spot on (33%) but IF Magnus & Manzano could gain control, not only would they sort out this mess of multiple tenements/licences, they wouldn't just be injecting operating capital - they'd also be injecting Common Sense into a company and it's devoted shareholders that's been used and abused by renegade cowboys, imo.