"That being the case, why wouldn't they do the gig, show the results, watch the sp go up, then do the PP for much higher and less dilution."

You basically answered yout own question, Sum. They moved a couple or three hogs to the front of the line to allow a little fattening. Once they are all fed and watered, the gig starts. We will never see a name attached to the buyers, of course.

I truly believe they have something they didn't know was there 3 months ago though, and are laying the groundwork for something big. They could have known for some time and kept it under wraps, but I doubt it. Too many possibilities for exposure. Nevertheless, if they can somehow time this to coincide with an announcement of infrastructure, all our hopes could finally bear fruit.

At any rate, I find this announcement quite amusing, not only from the size of it, but the fact that they need a "syndicate led by Raymond James" to put this together. That coupled with their fees of 5% says it all. A typical placement that requires any effort would suggest a 7% fee.

Best regards

K