Of course there are risks, but the very real impact of delaying...

Of course there are risks, but the very real impact of delaying the project is worse than the possibility that the ponds need to be redesigned. If there are issues getting the processing plant up to nameplate then they have time to address that, but if it's such a major issue that they need to go back and fundamentally alter the ponds then the company has far, far bigger problems than a few months of wasted construction. Going back to the drawing board and having to redo all those ponds would be devastating, expansion or not. But I think they've got the ponds well under control. The company is making the right call, the risk is worth the reward.

And of course the share price will fall, after so many shares being printed at 18c it's basic arbitrage. If these smart investors had concerns about this expansion plan then they would have sold a long time ago in March when these plans were first announced. It was the news about the financing of these plans that caused the share price drop, not the plans themselves. Hopefully the benefits of advancing the expansion will be there long after the pain of the dilution is gone, but we'll have to wait and see on that one.