@Trask - i think you have this backwards WGX wanted 30m. So they...

@Trask - i think you have this backwards

WGX wanted 30m. So they said, ok, give us 357m of your shares at 8.5c

which was the prevailing market price discounted., perhaps a VWAP over a few weeks, as it had risen sharply to 12c.

If binding offtakes were to arrive, DERISK EVENT !! Implies higher valuation in anyones language.

Buyers may be waiting for that box to be ticked, before making their move. Then goodbye any seller looking to pip trade under, 15c ??

And sellers, maybe sitting on the fence to sell this without the certainty of binding offtakes. So they change their mind, and supply dries up.

So then, finance talks maybe at that higher price. Not locked into some option deal that they had to nail a number to.