really quite an unusual move by management, as stated, lowest...

really quite an unusual move by management, as stated, lowest closing SP in 3 years is 3.9c and decide to raise at 3c, even that is a large discount.
perhaps they thought they might struggle at a higher price even though this is underwritten to the tune of $1 million.
by going in at 3 cents though, this makes their positive recent announcements look as if they were mere fluff.
looks like management have been held over a barrel by the large holders and decided to bend over to them.

all up, going on recent announcements, management could have covered themselves in glory, instead, they have disgraced themselves. no point comparing this to a potential SIR, management are not even close to being in the same ball park as SIRs.