News: LCK Leigh Creek Energy Says To Raise Up To A$20 Mln Via Placement, page-41

Maybe they didn't go to shareholders, because they themselves, and their associates own a large chunk and don't have the funds.
Maybe they didn't go back to shareholders because the raise at 18c to shareholders is still only around breakeven including options so they wouldn't get uptake. ( I am one)

and maybe they went to these guys again because it was the simplest fastest way to get the funds to shore up the balance sheet because there are things going on in the background which they need to move on

and maybe this will be the last round of CR funding because when the BFS is released they have financiers lined up, becaue the project is so good, there are parties lined up.

Everyone's guessing. Short term pain. Ignore it. Don't take your eyes of the ball, which is a few years down the track. Management aren't going to all this effort with the Koreans to simply kick the can down the road and line their pockets. This is speccy and small cap. Accept the risk. If you don't like rollercoasters, don't get on the ride.