Ann: Trading Halt-AVQ.AX, page-64

you are forgetting one tiny detail, AVQ do now own Isabel.

My guess it the money is mainly for wages and travel costs and some drilling on SJ.

Remember, SJ is just an exploration asset. It will take some work to define a Jorc there.

My guess is decision on Isabel many months away. AVQ can wait and do nothing or do some drilling on SJ.
Orchestrated or not, RM is not foolish enough to not take advantage of the recent pump.

Hence the cap raising so they can at least do something. But as usual admin costs will dwarf exploration costs.