Yes the CPA is in place to take advantage of market conditions...

Yes the CPA is in place to take advantage of market conditions in order to raise the required capital, which is the same for most capital raises however its only at a 10% discount to market VWAP instead of 15%-20% like most.
The most important thing is for GMC to get the first two smelters pumping out ferroalloy.
Given the financial situation GMC are currently in - the CPA at least provides management with control of when to utilise it in order to reach milestones to get to production.
Yes salaries will be paid to management which happens in 99% of other companies around the world but also money will go to getting this project into production which is all that really matters in the short term.
I think it's a great move to have a backup of garaunteed capital that the company is in complete control of in order to get to production which has been projected for June / July this year. Probably a tad bit longer knowing that processes take longer in Indonesia.
Time will tell.

Cheers