"Dilution at these proposed price levels (i.e., ~7c) will...

"Dilution at these proposed price levels (i.e., ~7c) will massively reduce potential longer term upside."

How can you say "massively" without knowing how many shares? If the cr price was 1c and they issued 100mill shares, that would be the same diluition as a cr at 7c for 100mill shares or a cr at 10c or 20c for 100mill shares. The difference is the cash raised not the level of dilution.
If it is 100mill shares, the dilution is around 12.5%. Not massive at all. 200mill shares would be 25% dilution. Much more significant but still not massive - at least not by my interpretation of the word massive. I would consider 100% plus dilution as massive. That's what you would expect for an earlier stage company or a company with much larger capex requirements..