Very Good - 31.8grams Average, page-10

your post is irrelevant

before the drop, the market cap was $7M and the company had $5.5M in current liabilities, which is an implied project value of $12.5M

after the capital raising, if acceptance is 100%, at the capital raising price (80% drop), the market cap will be $16M with $8.1M in cash and $1.3M in the old debt, which is an implied project value of $9.2M

at the current share price of 0.3 cents (70% drop), the implied value is $17.3M

therefore, the company has not yet lost value, yet

something like this