The obvious and sensible thing to do in the current pricing...

The obvious and sensible thing to do in the current pricing environment.
I was pissed of with the way CXO managed the recent capital raising (i.e. it should have been done earlier when price was significantly higher and clearly there were many with inside knowledge benefiting before the announcement).
I have also tended to blame the new CEO but as more facts emerge it appears he is doing what is best to ensure long term survival of CXO (i.e. raised needed capital - even if not well timed and now waiting out the current down point in lithium price cycle.).
If you believe the current Lithium price is at close to low point of cycle and in time will return to levels much higher, then CXO is in good position to benefit. It will be a company with no debt, reasonable cash reserves and making great profits.
CXO is a great buy if you are of the view that electrification is the future and consequent demand/supply balance of Lithium puts producers in the box seat.