Because obviously not one share will be placed at 10 cents if the SP holds near here. Also, no need to think about a JV where big bucks need to be spent to build mining infrastructure for 50% of the company when for $17 million more (market cap) theoretically you can get 100%. I know there will be a premium for a takeout but these are small numbers for that extra 50%.

I smell a rat - don't you? Webb can't get money now, so he'll be forced to sell to whatever company/group engineered this drop. The modus operandi has different twists, but the same result occurs when a company runs out of cash, or is blocked from obtaining any new funding. Anyone who doubts this was engineered should look at Pman's post delineating 25 million shares flying out today - 10% of the total outstanding - almost all in the last minutes of trading. Is this normal, or is it suspicious?

JMHO.