Hexagon Looks Beyond The Swarm, page-24

He said he sold at 26c, but you are right. It is probably a few longterm holders that disagree with the direction the company over the 49% deal. They may have held higher hopes that we could raise the $150mil to develop the mine ourselves, but it wouldn't have come without extreme dilution.

The banks are tight, so capital raising was probably the only other option. I would rather have 49% of the resource than 25%, which would be a best-case scenario if we needed to raise $150mil on market. The price usually drops when a cap raise is looming and then shares need to be offered at a further discount.