I doubt it was his decision alone. The others in the management team have been around the traps for ever and would have been involved in all decisions to do with the raising of funds.
Like you say it would seem pretty stupid to cut your nose off despite your face IF you weren't confident of raising funds elsewhere.
Problem we have currently there is ZERO indication this is the case atm but that could change at any time.
The company announcements suggest lots of interest from all quarters. IF that turns in to cash then the market will change course pretty quickly IMO.
I doubt it was his decision alone. The others in the management...
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