Any attempt to further fund the mine from us at that time would...

Any attempt to further fund the mine from us at that time would have resulted in the loss of even more shareholder funds. I'm almost certain of that. Therefore what could the BOD do?

We'd have massively diluted the held interest in Leo for zero gain. The price of gold was not sufficient to cover ongoing production at that mine, and wasn't for a good 12 months after we'd made that decision. Not a single gold mining company in the entire world wanted it.
It just didn't make sense for us to continue given we had no avenues left for funding - in part due to the Junta having staged a coup. The Board didn't really have a choice.

People playing Captain Hindsight on the decision now are....doing just that.

Anderson and Cowden dismally failed in not getting on a plane and making that case directly to the Junta when they first ran into trouble.

Instead they both just opted not to bother and ran for the golf course. That was where and why it came back to haunt Leo IMHO. The decision itself had to be made, they were too cowardly to make it, and too cowardly to communicate it to the Junta.

Just how I see it all.