Equity increase = 100 million Surprised to see the company can potentially increase equity by $100 million.
The only reason I can see doing this is one of three things:
1) the company is concerned at the returns from Kiena will not be as robust as they were projected to be… IE all in sustaining cost will be much higher
2) the delay, clearing commercial production and increased capital expenditures on the mind have used up funds that needed to be used for seating/moving forward another project… Perhaps Moss Lake
3) the company is worried about a takeover before they prove up additional resources at either of Wesdome mines... if this is true, we should see a budget for an awful lot of drilling in 2023.
Obviously, I'm hoping that the money is needed so that they can carry out number three.