Some shareholders clearly seem very worried about a likely large...

Some shareholders clearly seem very worried about a likely large Capital Raising.

I actually look at the Capital Raising as a positive even if it is carried out at say a 20% discount to the current share price.
If this does happen it will very likely mean the mining licence will have been approved, they will have other debt funding approved, other partnerships/deals will likely be in place and the board will have given the green light to develop the mine.
I'd much rather see that than nothing happen for two more years and the current cash just getting dwindled away in overheads.

Any drop in the share price due to the CR will be more than offset with the excitement of the mine being developed and the share price will very quickly be a lot higher than it currently is.

For me the only bad outcome is if they do a small CR to just fund overheads for the next 12 months as that would send a signal to the market that things are not good.