Yeah you are entirely correct up until this announcement: "Leo...

Yeah you are entirely correct up until this announcement: "Leo Lithium Secures A$106m Strategic Placement with Ganfeng" (29/05/2023)

There was a funding gap that they planned for DSO to fill, which they then upped in quantity after the lithium price fell to still have it filled on paper. I think the reality is they were always going to raise money and not risk it. Not a knock on management it just is what it is of a company in the development stage. Fake it until you make it right.

It just so happened they could raise with their project partner at a premium and enter into a cooperation agreement which was overall accretive so it was a better than anyone expected scenario.