That maybe so, however there is cash in the bank that can be...

That maybe so, however there is cash in the bank that can be syphoned off to top up the remunerations for the present staff numbers as the CAPEX work will be scaled back as well. And don't overlook the fact that Strategic Metallurgy have stated that they are not going to take-up their offering of rights, so the rights price is going to be 'bombed' right at the start of trade with 52.53 million rights for sale probably for a price of 0.001 = $52,538. And, Gary Johnsoncurrently intends on taking up his Entitlements in his personal capacity, subject to funding. Which is code to say "I'll sell the rights in sufficient quantity to free carry the remainder". The other Board Members haven't indicated their intentions but history says the probability is low.

Their record isn't good as pointed out by Jasox:
"GJ and JW purchased a combined 3 million shares on the last round @ 0.007. Given the size of the register it's a pittance.
Prior to that there was an oppies expiry immediately followed by an issue of performance shares for the same quantity but with a much much lower strike price."

It strikes me that they are only interested in the own welfare which is not coinciding with the general population of shareholders. Wasn't it said that they now driving to create shareholder value. this has been pulled at the worst possible time, especially when its been said that they had sufficient funding to see them through to the 2nd half of the calendar year. As I've said earlier, this is a poor exercise in public relations with shareholders and totally disrespects them, I cannot see it in any other way. Very, very POOR FORM from management and demonstrates total disregard for them. Usually, LPD shareholders have given very strong support for management, but now it's obvious that management has no value for its owners/shareholders.