"I have not been keeping track but there must have been 6 million shares and then some traded since the announcement of the flow through placement."

Don't forget SGR.AV also trades on the Alpha that does not show up in the volume of the TSX and there were probably a few preemptive moves made prior to the announcement on the part of the underwriter(s).

The pp is supposed to close on or around the 24th just prior to the financials so the underwriter's client accounts tax plan is the bigger issue between the announcement and the close than just straight share conversion.

Uncanny how a sp as volatile as SGR's has traded in a 10 cent range for 5 consecutive before today's little rally. I guess if we break above ~3.70 in the next few days, we're off to the races.