i dont get it, page-23

Good stuff guys,
The concern I had was exactly as posted by craigl:
"The second tranche is subject to shareholder approval. Which scenario is going to attract the most votes and ensure the placement goes ahead? A placement at a huge discount to the market, or a placement above market price"

The remaining 1/3 placement AT THIS STAGE is at risk in its current form !

What does this mean ? It means that unless the SP goes north of 0.43 and therefore is "in the money" no one will want to take the placement as it will be dearer than the market price. Simple as that. CNX will then need to offer them cheaper than that already taken. This will peeve those investors off whi have already taken theirs at 0.43

CSIRO did not do us a favour by selling the holdings (ie some of them) right now at this crucial juncture.

IPL is to take up its portion to balance their 10 % which they will (as they are partners). Other instos are in here too. So I think that what they logically should be doing is buying at current prices and rebalancing at 0.43 cents when those shares are transferred. Asuming that the SP goes north from here which I beleive the SP will. Since they have not as yet (or it appears that they have not) bought at current prices I would think that it would just be a matter of days before they (those who have take up the offer at 0.43c) will buy at current levels.

I mean if they dont buy at current levels they dont beleive in CNX which is a nonsense else why invest in the placemetn in the first place ? So everything I can think of tells me that the price must go north from here and pretty darn soon.