current sp

I am trying to work out why the current SP is suffering so much after the annoucement of the deal finalised and money in the bank.

Is it because we currently dont have a plan on what to do with the money and the markey is worried that it will just be wasted?

I just cant for the life of me work out how diluted this is a $3.50 - $4.00 stock based just on cash at hand?

Hell put the company into voluntary administration and liquidate the cash and sell the 40% remaining ownership of field and we all have $5 to our name..