Is that cap raise 81c, page-8

Some quick thoughts:
Convertible note strike price is at $1.0036.
Albeit I have no idea the basis for such a hefty discount to TERP as opposed to VWAP.
If the did discount to 10, 15 or 30day VWAP would be materially higher and above last close - I naively thought they could do this at a premium to the previous close given it represented the equal lowest close (would have formed a double bottom and run had they just released offtake news).
Also, had they announced the new offtake on preferred terms the TERP and VWAPs would be materially higher too.
As would if a BAM update was provided; or
The production update was provided in quarterly as opposed to randomly when the price was breaking upwards last few weeks, like most companies would.
No wonder management haven't bought in recent times.