"a) prevent a heavily rumoured LOW PRICE hostile takeover at the currently low $1.25-$1.40 sp;"
But that PP raises the possibility that the sp could go to, as some say, $0.80 and thus increase the risk of a take over many times over.
Sorry but this argument falls flat on it's face, imho.

Also what is more badly needed, more cash for drilling or avoidance of expensive dillution.
I am of the opinion that this dillution outweighs the benefit of the extra 10 million $.
Any decent hit with the deep drills would have propeled the sp higher even if only a few tens of cents and then do a PP.
I concur that this PP was mainly a payment for support during the AGM votes.

I am also of the opinion that the management 'knows' in what ever meaning that terms exists to anyone, as to what is with depth at Eagle's but are loath to release ( perhaps deliberately avoiding reportable info ) for fear of triggering a take over. I think all the machinations of late are done for a purpose to benefit certain entities.

All this is just heavy speculation on my part with little evidence to support it except past experience where one of my holds went bankrupt and another was reduced to a tiny fraction of worthless shares. I see no chance of those but see entities trying to muscle in on on the cheap at a fabulous find. They are not crooks just opportunists that are allowed to do so by the shareholders.

I am not in NOT for the management style but for the exceptional ore below ground that has to reach the surface at some future date.

For the record, I am also buying on the cheap, little bits at a time. Cheers.