I do not understand your logic. I would be glad to take 19,000,000 shares at $0.60 and rights to 9,500,000 more @ $0.85 anytime up to two years in future.
There is no way you could go out in the open market and pick up 19,000,000 shares at anything close to $0.60 and 9,500,000 shares at the end of fiscal 2012 for $0.85, would yield an enormous profit.
Everything that has happened since March 15, 2010 has made the deal more attractive. Surely you cannot believe that the current share price based on thin market trading somehow weakens the deal.
My guess is if the deal does not go it is because the company is so flush with cash from production that they just decide to walk away. This would not be done from a position of weakness.
Did you read the terms of the Private Placement offer????
