I've said it time and time again, warding off the takeover is far more important than a little dilution. The cap raising prevents FAS from getting even close to the 50% and causing more disruption at board level.
As a bonus we have enough cash to take it to prefeasibility. The share price will rerate accordingly. You cannot judge this move on the short term and with such low liquidity.
For all we know FAS may be pushing down the share price for this very reason.
I've said it time and time again, warding off the takeover is...
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