"I think this action also clarifies the recent programed price control. The company would have known this was coming down the pipe and might have wanted to avoid the optics of selling a huge block at .80 of a stock trading at .90 plus."

Although I tend to agree with your assessment, on the surface it seems strange that a company with a good resource would have difficulty raising cash - no matter what the sp was. Would it not be in the company's best interest, and in the interest of the sharelholders, to offer the bought deal at the highest price while minimizing dilution? Maybe what they got was the best deal out there.

Sam