I dont think your understanding this properly, why buy in open market where conditions are so illiquid that if you wanted to buy in for 4.5M shares the cost would be significantly more than if you do private placement..?
Its not that i dont think big investors should risk before top line since that is what hepalink, KD, eastern gave already done. But hell if they do buy , it certainly wont be on open market.
For us on this board i assume we all bought on open market and therefore we need open market conditions to be bullish to eventually lock in the profits.
So it must come down to when buying in open market is better than PP for the sp to really take off.