I think its fair to say anyone can come up with a theory that...

I think its fair to say anyone can come up with a theory that suits there agenda or way of thinking as to the way a stock price moves. Its pretty evident that the price has been manipulated down to flush out all the traders from higher up, hitting a few technical areas where stop losses would be triggered. The way the selling has been going on for the last 5 sessions is very dubious to say the least. I will be analysing the broker data once it becomes available against the course of sales to see what can be made of it.

In regards to the last capital raising via placement would you rather

a) A placement where some 50-70 percent ( a rough figure ) goes to tight hands / institutional investors where the stock wont hit the market. With the CEO now investing $4 million dollars into the company within the last 12 months ( extremely rare at this end of the market )

b) Placement via broker and all there clients as well as a SPP which can drag on for up to 3 months so they can all flip for pips on the way up creating a significantly loose register compared to the shares going to sticky hands thus causing a some what lack of supply ( although we are getting plenty of that at the mo lol )

I know which one i would much rather prefer as an investor of the company before the raise.

I really do not see what you are complaining about as a sole share holder of the company who could buy them on market for the same price for at least a month after the raise. If you are looking out for the best interests of other fellow share holders on the register, then you are not really looking out for number 1.
The more stock distributed across many more share holders would only cause a supply issue as it tried to appreciate in value. A tight register is the key to faster share price appreciation.

On a side note : I do not agree with being issued shares based on the VWAP of the share price for a certain period of time. Because as you say this can speak of manipulation. Performance shares should be earned by reaching milestones in the company. But hey its done and dusted now. Lets move on. Pretty sure everyone will be happy when the next milestone is reached and it has done a 100 percent return from the current share price? Glass half empty, half full pretty much sums this up

Cheers