I was under the impression that directors were limited in the...

I was under the impression that directors were limited in the amount that they could raise in a new capital raising was about 10%, without specific approval from the majority of all shareholders. However, this current capital raising is for $55million dollars when the value of the company is/was between $9-16 million......up over three times (+300 - 600%). Believe the increase to $16m has resulted in the first cache of new shares being issued. We know that the company's senior directors have been assigned and are also buying an inordinate number of new shares at 0.004c. There there another 600odd million options in the loop assigned to them. Then, these same chosen few are putting their hands up as Underwriters receiving over $2.5 million, which by the way can then purchase 612 million of the new shares. A 0.001 cent increase (25% profit) will result in them receiving another $612,000 profit from the underwriter's 5% divi. Not bad when the rest of us who bought from the last capital raising are down +80%, let alone the absolute massive dilution of our interest in the company. Inside trading at its worse. Criminal activity is a real possibility. How many billion/trillion shares will this company end up with. A consolidation, e.g., 10 shares down to 1, will be certainly considered in the near future. Some posters here have also indicated another new capital raising will be required soon to pay for the actual drilling needed.