Ann: Intention to Delist from the ASX, page-38

I have just read the announcement, and this must be the most disingenuous comment you could possibly read:

"If the current negative trends continue, the Board believes that the impact of raising capital over the next 12-18 months to bring the Company’s flagship Mariola Project into production will result in an excessive and unacceptable level of dilution to existing shareholders. "

So excessive dilution is unacceptable, but either forcing holders to sell at all time lows OR alternatively forcing shareholders to lock away their capital for an undisclosed period of time and relying on BMB management to get their coal projects up and running profitably (where it could be argued their track record here is not strong) is acceptable?

I do feel for people who are holding or who have exited this morning, I would never have thought this was an outcome.