why?

Rather than wring every bit of anguish out of the fluffy bits of the announcement, ask two questions.

Why is Anthony Kain, a lawyer, who according to his company site "has advised on national and international capital raising, joint ventures and mergers and acquisitions through his exposure to a diverse range of development opportunities, working with technical teams primarily in the energy, energy equipment and resources sector throughout the Asia-Pacific, Europe, Canada and the USA." getting involved in a company like GDN? and

Why is Otsana Capital, who according to their website "All of Otsana's advisory services rely on the following fundamentals:
Developing a deep understanding of the business
A strategic approach to corporate transactions, and focusing on needs and objectives
Rigorous and disciplined financial and business analysis"

doing a capital reconstruction and raising for them, doubling the number of shares on issue? The 320m 1c "new" shares will presumably go to sophies, or maybe even a venture capital fund. Neither of these two newcomers appear to be naive dummies.

I posted when the RdeB leaving announcement came out that it was a precursor to field abandonment. I still think that is on the cards - but I also suspect that Sciano will be next to go (the 20m oppies at 0.1c a retirement present), and we have a recapitalised new GDN with talk about new projects and prospects. A corporate lawyer at the helm with a deal making background - he might even be able to salvage something from Golden Eagle.

None of this will help existing holders short to medium term - the sp is doomed to 0.6c or 0.7c, or even lower. But the oppies are Jan 2015 - a long way out and plenty of time for a new team, looking for a clean, listed company as a vehicle for new projects to get them in the money at 2c.