why capital raising at 0.005 is just stupid

So for all the people who are crying about capital raising once they have sold out.. why would QPN want to do a C/R at the lowest prices it has been in decades?

From the email to the directors of QPN, we already got the message from them that the FIRST DRILL IS ALREADY FUNDED?

I thought a capital raising is mean't to be done at higher prices (if possible) to NOT dilute the shares.

Hence why I think management will drill the first hole, hopefully dig up lots of oil and gas, and potentially do a capital raising (like what MAD did) to sophisticated investors once there is oil or gas in play. Hence it may become oversubscribed. But at this time, people will be rushing in to get a hold of the story who cares? It'll just keep going up?

It's all speculation when/if they will do it here or later. They have 1.5m, realeased in 'tranches' upon milestones. No one really knows how they are going to fund it. People who think it's this quarter have sold out. People who think it's later in the year will have bought in.

I don't really think they will do a C/R at all time lows when that is NOT in the best interest of shareholders.

They will at least drill 1 hole first.

Note, they are commencing drilling BEFORE 30 June 2011 and if they can dig up oil/gas, s/p will be much higher no?

Thoughts?