Some investors may have expected that the capital raise will...

Some investors may have expected that the capital raise will make up any debt funding shortfall (ie debt first, then CR). The timing now appears to have swapped: CR now, while the BoD pulls together the complete funding package.

The money from the CR will be applied to tasks within workstreams that lead to construction, so there is no waste there. It will allow progress on the workstreams, without being reliant on debt finance.

The suggestion that this is the last CR prior to production is indicative that the BoD are confident that the remain puzzle pieces will come together.

Irrespective of any down ramping or "I'll save you" advice from "concerned" posters, the success of this CR should certainly strengthen confidence of investors that construction and production can proceed.

Of course, that will not suit the agenda of non-investors who would like to secure the Karibib mine and LPD's unique chemical process IP for another jurisdiction. Genuine investors can support the diversification of the lithium and Cs supply chains away from China, which will drive the transition to a low carbon future.