Ann: Option to Acquire Lithium Project-BLZ.AX, page-14

I think the deal is quite interesting and not too expensive actually. Remember its jut an option to acquire pending positive exploration programme, not an acquisition yet!
The only part Im not quite sure about is the need for a CR right now. Considering we have ~$2m in cash, and the option involves a maximum of $900k including all fees and payments for the next year even if fully exercised. Sure, you may think they need lots and lots for a major exploration, but that would only come of the back of positive exploration results to come, and then the CR could be done much higher up...

Never the less, even if everything goes through, the float would still be very tight 155m issued with a further 150m performance shares and options. Pretty limited CR really.