Yes, this happens all the time. A PP is done for "friends", "family, and institutions and at bargain prices. In good times they are done at below market value. At least today it was done at a 50% premium to market price. Again it's a sign of the times and we have to live with it

Personally I still think that the fact that management was able to pull this off in this market is amazing. The alternative is waiting a year until credit markets improve and having them do nothing until then. Now the project can move forward.

In todays market this phenomenon isn't limited to exploration stocks. Look at General Electric. GE needed money bad so they sold some preferred shares with a 10% dividend to some rich guy. That rich guys name was Warren Buffet. Warren has made a few other sweet deals recently . Some people today got a sweet deal with SGX IMO.

Sure SGX is getting diluted, just be glad you're still in the game because the alternative isn't pretty

On the other side of the coin ... two months ago when some people feel this deal should have been done, it would have been impossible to attract institutions for many reasons ... the markets were one. The other is there was little info available on the Golden Extension. Now managment nows more and surely enough to raise nearly $4 milion in times like this,

This IS significant.

relax and enjoy