this may explain why Kev is so upset, where his main gripe is...

this may explain why Kev is so upset, where his main gripe is the CR at 1.00 (Block trade at 85c). And on face value, the company was having a momentum run with Renard to 1.49.

In an ideal world, a CR called then would be without CFTF in order to captivate the price at hand. A perfect world would be with CFTF but that takes an open door available at that precise moment.
The problem that would have occurred under a conventional CR rights, given the deflating price of lithium would be that we go into a halt, ann 1.40 rights, but then the tide goes out, and no-one takes up the rights, as the sp dips down to 1.30, 1.20, etc. The alternative would be a placement, at say 1.25 from a halt at 1.40.

We have seen where companies can chase the market price, it is disastrous. I once saw a company revise its CR terms 3 times as the market weakened below the CR level.

So given the deflating sector, whatever the company did, it was prudent to rip the band-aid off quickly.
At least, with the CFTF we did achieve a respectable 1.00 swap on equity for cash.