My Read Seems to me the financing was necessary.....as most of you are aware, drilling Carlin type deposits are complex and missed holes are to be expected. If the next set of holes came up dry, in this current market environment the backlash could be severe. From what I hear, each hole can cost $300,000 - this is difficult drilling. So raising the money now gives the company the ability to continue drilling and potentially drill more amazing holes. Raising money at $2 is better than possibly having to raise the money at $1.50, or $1, or less.....
The other point is they raised this money without offering warrants, and with a closing date of this coming Wednesday (albeit with an over-allotment option), in very challenging market conditions.
Another thing to consider.....if market conditions were better, we would not have the opportunity to load up at low prices like we have today with companies that have produced drill results like GSV has...there are two sides to every story. If you believe like I do that there is potential here for some great returns, then this situation is presenting us with a good opportunity.
You have to weigh everything then make up your mind....
GLTA and have a great week.