It would make the takeover cheaper as it's taking out up to a...

It would make the takeover cheaper as it's taking out up to a third of shares at market value without the takeover premium.
They do an example in the AGM document at 25c - maybe AMU already has sellers lined up at that price for at least half of the 100mil shares sought - it'll be at least a month before we know.
I doubt whether they'll give us any bullish announcements on the Cherry Canyon drilling before they've done this corporate deal as they'll be trying to keep a lid on the shareprice between now and then.