..."The other option is that they are deliberately keeping it low to get access to the 75 mill placement as cheaply as possible"
...That sounds the more plausible of your scenarios 9L...
...Thats why the future upside in CVI is looking bright (medium to long term)
...Why not get in as cheap as possible!
...I would if I had the big money and the power to control the sp for cheap accumulation !!!