If any move happens options are exercisable, effectively diluting them down to the 11.6%.
I think captain obvious can see that M&G are buying up cheap and will give CDU a ripper of a financing deal in return for the placement. It's a low risk investment if you can cover the financing yourself. Guaranteed to light up the share price if the repayments are going ot be tiny. Would make mining lettuces an enticing prospect, let alone 8000+ a tonne metal. My baseless opinion, but makes sense a little bit, yes?
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loved that curtain call and encore, page-23
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