I agree, it is less than honest to say the project is on track...

I agree, it is less than honest to say the project is on track for production in 2022.
But the question is, is it DNK that wants to issue the new share and dilute the share holders' value or it is the bank that insists on getting the new shares issued but, they don't have the finances at this critical time?
Apparently DNK has enough money to enable them to start the construction of the project, so the inertia the company finds itself in is not understandable.
I don't think the bank can pull out of the deal they signed, just because the share price at the time of execution of the deal is lower than the price when they signed the deal. Otherwise, no contract would be binding. If the contract was not binding, the bank would not have asked for extension of the time limit to November. If it was not for the contract, the bank could probably buy as much share for less in the open market.

But all this speculation is because the company has become as opaque as the country it is investing in.