Ann: Volt Resources Launches Underwritten Share Purchase Plan, page-7

My reading is the same as yours S1....the price will be decided on Friday 23rd of August and will be based upon the 5 day vwap prior to this date at 20% discount.

However stepping aside from the SPP.....given the issuance of new Shares is expected to be over a month away....it wouldn't surprise me if the SPP doesn't go ahead and is cancelled.....if Trevor Mathews is successful is going Bond Approval in TZ before August 23rd.....

......."An indicative timetable for the SPP is below. Other than the Record Date, the Company may change these dates and times at its discretion and without notice"........

A successful $40M Bond raising would I believe, make the need for a $1.1M SPP redundant.

I think save Investors may have also twigged to this morning and this could be a possible explanation for the increased level of buying this morning.

I think all Trevor is doing by lodging the current SPP is putting an Insurance Policy in place if the TZ Bond Approval is still dragging on around mid-late August.

Time will tell!