If it's capitalized at a million dollars at two-tenths of a...

If it's capitalized at a million dollars at two-tenths of a cent, it has a market cap of $500,000 at one-tenth of a cent. CLZ has a cap-raise currently to raise 2 million dollars at four-tenths of a cent. Have a look at this Barrenjoey. At one-tenth of a cent Barrenjoey's 5 percent would only be worth $25,000. and the whole company would have a market cap of $500,000 at that price. Looks like a pretty Shite investment to me & most likely a tax loss.
Who would be happy about this situation if one was an equity holder?
If it goes one-tenth of a cent seller with no buyer again, the whole company could be bought 4 times over with the 2 million dollar cap raise figure. All this company has is 3 mining leases & a not-fit-for-purpose Gekko & maybe 16 million in debt .
After 40 years of investing in mining stock, I am going to be fascinated to see how money is going to be made out of this situation. i lost $510 in total & I still hold 8 shares , currently worth 1.6 cents at two-tenths of a cent. This is the equivalent of investing in a Gutnick stock.