i am confused

Now, maybe everyone has given up on the small goldies but this story is very weird and deserves some explanation.HEG has a couple of ordinary gold projects in NSW.They seem to have moth-balled the Hillend one and are doing minimal work on Hargraeves.But it still costs somewhere between $0.5m and $0.75m a quarter to 'operate'.HEG has a market cap of $7.3m.They did a placement to a Singapore fund last year and raised $3m for 30% of the company.The money has mostly been spent and they are left with about $0.86M currently.
So, this month, they do another placement for 19.9% of the company to a Malaysian investor and receive $1.36m. That's 50% of the company gone to new investors and a whopping 700m shares are now outstanding.
They don't appear to have meaningfully progressed any project and we, the dopey shareholders, have been inflicted with untold capital raisings and positive statements for years for ZERO result.Except being diluted to fly crap.
But, the good news is the Board has decided to invest $0.8M of our money (the new Malaysian's money) to buy 13% of a Senegalese gold exploration company(BSR) with no projects beyond exploration.BSR is burning nearly $0.9m a quarter too and, after raising themselves $2m early this year have only $0.3m left before our HEG investment.
So, between HEG and BSR they will expend all of the capital raising and amounts on deposit this year.aND NOT HAVE A BANKEABLE PROJECT.
What is the point? Why is HEG investing in this company?Why didn't the Malaysian investor buy shares directly into BSR?
We shareholders, as usual, have been treated poorly here and we are not given any explanations.This is a very sick/strange story.But,ain't it nice, Mr Bruce goes onto the Board of BSR.Beaut to be a director of these companies and play funny games that you don't have to explain.Is anyone interested?.