Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-27

All brokers are in it for the quick buck. That is how they make their money.
A few million of new money at 14-15 cents a share is arguably of less benefit to existing investors than the proposed RI. The only reason the RI could be considered is because RWD has management that is willing to risk their own capital. Ruane has committed more of his own money to the LD project than the combined management of all other SOP hopefuls have committed to their combined projects. The other guys are more interested in performance options for not very much performance.
I'm sure it concerns you that Ruane gave the "world class project', that you and Ceh follow, the flick yet keeps pumping money into LD.