Perhaps it was slightly blasphimas, albeit CMM has been fully...

Perhaps it was slightly blasphimas, albeit CMM has been fully funded to production, yet... had to raise a further $33m.
I concede that the timing was different (before commissioning versus during like CAI), but, the point I was trying to make was that even the best, do undertake unexpected raisings. To be clear though, CMM have not needed to raise any capital to bolster their finances during the commissioning stage.

July 2020 CMM raising after being funded for development

The rationale used for CMM was plant expansion, which CAI states its also for, exploration as well.

@Watchfulbull like you, I still support the BOD, albeit, if..... if there is bigger issues with the commissioning they they are not being up front about (perhaps a further 1-2 weeks before they fully hit nameplate for example), then I will sadly have to sell out. Too many times I have been badly hurt by such outcomes. I hope my pessimism is unfounded.

As others mention, the $5m working capital, does not sit right. If... its needed because one of the issues has not yet been rectified with the plant throughput, then just tell the market straight up.

The irony is... that like some I would have preferred then to have raised more, when the did the large raising, to have 1000% ensured this did not happen, even though ironically, it would likely have meant slightly more dilution, even after the raising today.
The trust the MD has built up, can sadly, be eroded very quickly.