Cap raising - a joke

This announcement is a disgrace, the share price runs to 12 c and they raise money at 5 c in the middle of a lithium boom ?
The share price was obviously hammered to get the price down ,so the 1/2 c options with a strike of 10c could be reissued!! Don't think the ASX would have allowed them to be reissued at 1/2c with a strike of 10c if the share price was 12c ??!!!
Existing shareholders get no opportunity to take up cheap options at 1/2 a cent through attaching them to the rights issue - a joke .
BW equities getting paid 3.8 million shares currently valued at $205000 at sp of 5.5c which equates to a fee of 17% for their involvement in the $1.2 million cap raise at 5c(would not have been hard) and they also get 5 million options , as the 17% fee obviously wasn't enough!!
It's no wonder this company has always struggled to get any traction in the market when capital is being raised like this , and the capital structure being blown out again , bizarrely just after a capital consolidation - if they keep going like this they'll have to consolidate the capital structure again shortly !!