Cash raiseThe company gave plenty of advance notice that it would do a financing. It may of thought that, with good luck and a following wind, it might be avoided but clearly it needs the working capital to cover costs until the operation is self sustainimng.
The reasons for the tight cash position are easy to see given the delays in getting to production, but it is not a large amount raised and the likely demand for copper in the next few years will probably offset the dilution and more. I think the full warrant was generous but its done. I for one will not be selling.