If you read back through the announcements recently you will See...

If you read back through the announcements recently you will See Peter Stuntz intends to double their investment in China which means pumping in another $25 million to aquire the magnesium production plant

So the recent placement would only be around 10% of that .
Time to run away maybe because they are going to need a lot more placements .
Margins are either thin or negative at present due to high Mg raw material costs.
I may get in when the market cap is around $8M in around 6 months :)