Ann: AVZ to raise $15 million to fund further work at Manono, page-215

That's right - Feb 2020 is a long way off relatively and the price was at 0.305 before the announcement.

There is a well known twitter commentator saying its not rational for a 3pc dilution to produce a 12pc drop in market cap. Fair enough in so far as it goes.

But what such an observation doesn't recognize is that it is current AVZ management that has effectively set that price with the deal they've struck - the market is today just taking its lead from them.