Agree. Definitely lower or they wouldn't participate. This I...

Agree. Definitely lower or they wouldn't participate. This I believe is standard. But what discount amount is the question.

The last proper cap raise as I can find would probably be a good example of what to expect...maybe??

10 Aug 2016
$21 million - The Placement at $0.30 cents per share represents a discount of 7% to WAF’s 5-day VWAP.
Share price was $0.32 at the time but was rising significantly due to massive gold hits being reported.

So for us now - 5 days of trading - $0.36, $0.345, $0.34, $0.345 and $0.345 (closing prices).
Gives us a raising at around $0.32
Really?? Possible raising price could be the same as 2 years ago share price??
I am only guessing though so take the above lightly. Could be way off.

Back in 2016 what followed was a good share price spike to$0.43 for a couple of weeks and then a drop back to $0.32 range by early September - but then the gold price was slammed and WAF dropped to low $0.20's.
What will happen this time?

All I can say.....

Well played by the "big boys"the past few days. They win.
Meanwhile, I was topping up on the way down yay!

Lets see what happens next week. Could see short term pain....or not.

In any case GLTA.