Chances of a Private Placing ?Some people have asked "Do you see a placing to raise some cash more likely now" ?
To which I have answered........yes I do.
Reason being currently work on Coho seems to be held up, no "visual" progress for weeks now after the initial burst to start with. Next satellite image is due today. I think Coho is now going to be late January at best, might slip to February.
The most likely time for any fund raise will be after results from the top zone in a couple of weeks. Canaccord has just done a placing for PANR (Pantheon Resources) and will have to wait a few weeks for those people to flip their PANR placing shares (sell for a small profit) and get reloaded with cash for "another oil/gas explo company fund raise".
So yes, following this oil discovery and the "need for speed" to drill Rosyton Deep-1 and Krakken-1 now.......I dont think they can generate enough cash quickly enough and so will more likely now do a "quick" private placing now to tide them over until Cascadura is online. if they do a placing then they can start with Royston Deep-1 perhaps in early Q2 2022.
Therefore in answer to those questioning, I would say the chance of a placing for some exploration cash has risen from 15% to now, in my view, 70% chance of an equity raise.