See ANS announcement on 22 March 2018, how ANS received funds from WAPRC in China for the application for 300 million shares at 0.011. This shares placement to WAPRC resulted in $3 million funds received by ANS which enabled ANS shares to be re-quoted and traded again on 5th April 2018.
It is more likely that the shares placement of $100 million to WAPRC will follow the same practice (see statement in BOLD)..
Quoted
ASX Announcement 22 March 2018
"CAPITAL RAISING UPDATE AND EXTENSION OF DEADLINE FOR REQUOTATION AustSino Resources Group Limited (ANS or Company) is pleased to advise it has made significant progress in the transfer of funds of RMB 15,000,000 (approx. $3,000,000 AUD) received and held in trust in our Chinese subsidiary company’s bank account in China pursuant to the Company’s Replacement Prospectus lodged on 25 January 2018. The funds received in China were for an application for 300,000,000 shares at $0.01 per share.
Ann: Proposed $100m Placement & Strategic Investment in Sundance, page-53
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