Rainman:  Cunningham's answer to your complaint:

Ken Cunningham, CEO of Miranda comments: "The market appetite for a fund raising is here now for Miranda and the board of directors deems it prudent to ensure that the company has a strong treasury. It is those junior exploration companies who are under-capitalized that are the most susceptible to being unable to withstand downturns in the market such as the kind we are experiencing now. Miranda is grateful that we have this kind support."

My further comment would be to simply follow your own thinking and instinct in this matter.  Good luck.