Given that the Company is uncertain as to when nickel prices...

Given that the Company is uncertain as to when nickel prices will recover to levels that will provide an acceptable return from mining and processing Savannah ore, the Company believes it is prudent to bolster the Company’s Balance Sheet by undertaking the Offer at this time.

- A little disappointed, because they had plenty of cash, but I suppose fair enough.....and not much dilution, considering the already low share base.