HDR should have enough dough to see them through to production,...

HDR should have enough dough to see them through to production, and have the banks to fall back on in any case. So a placement doesn't make any sense to me unless they're looking to develop Tiof sooner than recent blurb about difficulties suggests.

I'd be surprised if they do a placement before they're in production. Selling lately is probably mainly due to reconsideration of the risks (indeed likelihood) of drilling sub-commercial holes, and continuing uncertainty about timing of a Tiof development and recoverable reserves. Add to this some mongrels with low priced warrants hell bent on screwing yet more money out of the market at shareholders expense. Let's hope they burn in the afterlife... or reincarnate as a lower lifeform, perhaps a goblin, toothless tiger, or something else out of the cretinaceous period, lol