It looks like you are the one that needs to do your homework....

It looks like you are the one that needs to do your homework. I've already done mine.
Check how much cash they still need to raise and work out how much dilution that would need even if it was all raised by cr. I've already posted that calculation and the dilution is not close to what you just posted. Don't just pluck numbers out of thin air. Do the maths and then post something substantiated.
The IDC loan took longer than expected but was approved anyway. Some here were saying the delay meant it would fall through. Delays are unwelcome but they don't mean the company will not raise the rest of the cash to satisfy the IDC loan preconditions. I doubt the Angolan banks will take as long as the IDC but there is a plan B. The quarterly did say that the company is talking to strategic investors still. I'm happy to see that they haven't narrowed their focus to just the Angolan banks despite now being very confident that they will get the Angolan banks as well.
I have previously posted that I'd prefer another cr now rather than wait for the US7mill needed to satisfy the capital precondition of the IDC. It was $11mill but the company since raised US$4mill in the recent cr.
A strategic investor will not sell on market day 1 so a cr to a strategic alone would likely have a positive impact on the sp because it could satisfy the IDC capital requirement and US$7mill is not too excessive an amount from a dilution point of view.
Even so, I'm starting to think I'd prefer they wait on the Angolan banks or make it a mix of both to keep potential further dilution lower.