over and out - mount kellet down spiral?

reading todays market update has made me hit the sell button. after reading yesterdays presentation that stated a phase 2 start up in q1 we learn that the ramp up period will take "3-4 month until first commercial sale of reo product". it seems like company projections only last a day.
the worst part is found all the way at the bottom. mt kellett has obviously waited for lower prices until they approached lynas with an "adjustment mechanism under the convertible bond deed poll". this is imvho a major catastrophe for all retail shareholders meaning more dilution yet to come. the bad thing is: these people now have an interest of falling share prices. this doesn't look goo folks. you simply don't give the people a reason to act.