Maybe the discount also applies because the market loses...

Maybe the discount also applies because the market loses interest in the stock, given the inordinate amount of time it seems to take to get anything done. Maybe they need more hands on deck as I would hate there to be any delays to the supposed first pour in the 1st qtr of 2011. If you were an institution, having taken stock 3 months ago at 15.5c and not really having seen them at that level since, you wouldn't be over the moon. It's all about opportunity cost. Shades of the last placement at 10c a few years ago!