Why would you want to dilute the CEL capital base from here...

Why would you want to dilute the CEL capital base from here Michealjs? This is a tight register and the benefits of such will be evident once the licence is granted and JV signed, as all shareholders will benefit from any further dilution.

We don't need to raise any funds once the licenses are granted and JV is signed. We will benefit from the capital injection and tight capital base for a minimal sale of the project. New buyers of the stock will be forced to pay up due to the lack of shares floating around in the market.

If you are simply looking to pick up additional shares at a cheaper price, pay up! The benefit of doing a JV with a major partner for substantial funds vs a SPP to existing shareholders to simply provide additional short term funding vs is non comparable. Think about the bigger picture and the capital structure of the company.