chrisophe, I doubt the underwriters expected to be left holding...

chrisophe, I doubt the underwriters expected to be left holding nearly 50,000,000 shares at 7c.

In the absence of news to the contrary, I am going with the theory that Harkins was removed because he failed to deliver the promised good news to support the placement.

Patersons are probably offloading whatever they can above 5c to limit their exposure. I wonder if they are pushing their clients into it, because I don't see where else the buying would be coming from after such a poorly executed capital raising.