The last traded price was before the announcement of the...

The last traded price was before the announcement of the drilling results, therefore on the news of good drill results you would expect the SP to rise. This has allowed them to get 20c for the Cap Raise.

$12.3m is an amount that sounds like they took every cent, not like they cut back lots of investors. $12.3m = 61.5m new shares, taking all options, existing shares etc goes to to about 380m shares all up.

The $12.3m dollars is a strange amount to have "cut back" a lot of sophs. If they had $7.4m in mind as per the article, then I would suggest they took ALL that was offered.

For this to even be a one bagger from here it needs to go to 40c and have a MC of $152m, a multibagger would suggest it is going to at least 60c or a MC of $228m.

Considering Altura with a resource size of 35mt at 1% and an offtake agreement under their belt has a MC of $224m (allowing for all option conversions), then there would be a huge amount of blue sky built into the DKO share price at 60c (ie a multibagger)