Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-30

* another year or 2 of sloth like progress with missed milestones that will wear down even the most ardent 'believers' & facilitate continued accumulation at ridiculous prices.
* Internal loans that can only be able to be repaid with equity ... more cheap accumulation of equity.
* Takeover bid followed by compulsory acquisition ... or worse, a DOA when it slips into insolvency when the internal loans can't be repaid.
* Delisted
* Out of the blue off take agreement for funding to production

The history of penny dreadfuls is littered with such tales.
Most don't succeed, usually because the protagonist is either too greedy to land the off take or they come up against a bigger, smarter operator who plays the same trick on them, or they aren't as clever as they think they are or the time involved in crafting the scheme sees the market opportunity pass them or ..... etc etc
Greed kills as many good ideas/projects as incompetence does.