placement of $10.1m to advance qld copper proj, page-31

I've given this more thought.... JGPM is right in that the deal was struck when the price was around 25.5-26 c, therefore the discount was only about 5%.
Now I ask you, would you allocate 4 + million $ of your hard earned cash into a Company for an initial 5% discount consideration, and than, after that you're on your own??
And I wonder who the buyers were that pushed the price up to the pre-placement price of 30c.... the same people ???
Secondly, an open capital raising would have taken a month + to finalise, therefore reducing the amount of 'dry' time available to drill. As it was the rigs were molibised prior to the announcment!

I'm starting to think that the glass may be 1/2 full.