capital raising - dissapointing

Whilst I'm a non-holder of the stock, I have followed LYC since it's fall from grace back in the $2.00

Yesterday's announcement was a huge positive and 'looks' as though it is potentially the end of the drama with the locals and signals a clear path to production and revenue.

But aren't LYC playing into the hands of the shorters here by raising funds at these levels ? After yesterday's positive announcement, all they gave the stock was 5 minutes of trading and 10 minutes of match to potentially recoup some of the massive losses accumulated over the past 12 months.

With the right broker support and research, surely they could have pushed this closer towards $1.00 over the coming two (2) weeks. Are they in that desperate need of funding ? The dilutionary effect would have been cut by minimum 20-25% IMO.

This is assuming they are in fact doing the CR at a discount to current prices