I don't really have any strong opinion on whether the CR was...

I don't really have any strong opinion on whether the CR was reasonable. But I don't think you can really argue that people can't complain about the shares being issued at 1-1.1c because they have had ample opportunity to buy in at these prices. People who bought on market at those prices were buying at a much higher risk level than the institutionals and sophisticated investors who received allocations under this CR. I would be highly sceptical if they agreed to participate without getting a quiet heads up that the JV or at least something big was in the works. So basically, they got the same price but on a significantly de-risked investment. It's the way things go so I'm not going to cry about it but it doesn't mean I have to like it.