Agreed the management know what 2018 exploration activity was...

Agreed the management know what 2018 exploration activity was going to be last year and i was given the impression that they had raised more than enough to complete their objectives .They may have miss calculated need a few more dollars and thought now was the best time to do it while they have a strong hand i.e. not much urgency while they still have plenty of hard cash in hand or they are squaring the MTR 30/70 issue and taking 100% control before we hit the big stuff.
For that scenario MTR would have to sell off 10% (to stay below 25% )to an independent player and in order for that to happen it is hard to imagine them selling for less than their average which i am guessing must be just below 6 cents.