I refer to today's announcement and in particular this passage...

I refer to today's announcement and in particular this passage contained within said document;

Kidman Resources Limited (ASX: "KDR" or "Kidman") is pleased to announce that [it] has entered into an Underwriting Agreement with Cygnet Capital Pty Ltd ("Cygnet") whereby Cygnet has agreed to partially underwrite 5 million of the 24,240,652 options (KDRO) currently on issue (having a value of $1 million), for a fee of 6% of the total amount raised plus the issue of 150,000 fully paid ordinary shares in the Company. It was the board's view that a partial underwrite was in the best interest of all shareholders as it provided a top up to the company's cash balance, which stood at approximately $5.66 million at the end of the last quarter, without unnecessary dilution.

Cygnet Options Underwriting Agreement
Pay $1,000,000
Receive 5,000,000 FPO's
plus 150,000 FPO's
plus 6% of $4,848,130.40 (24,240,652 x $0.20) = $290,887.82
Potential Outcome - Cygnet receive 5,150,000 FPO's for $709,112.18 @ 13.7c per FPO KDR share.

Please by all means, if there is a KDR director or company secretary that may be watching, reading and would like to log in to HC to clarify whether this is a correct assessment or infact it is incorrect, I'm certain holders of both KDR & KDRO would be very greatful for the clarification. Personally, if in fact somebody or something is/are buying KDR shares at 13.7c each, I would consider it neither 'in the best interest of all shareholders' nor avoiding 'unnecessary dilution'.