What are they going to do with this money?That seems to be the big question.. I remember a couple months ago, they had $20 million in cash.. and now they raised an extra $42 million. So currently, they have about $60 million.. What are they planning to do with this money?
They already had more than enough to continue with their drilling in 2020.. so what are their plans? The few possibilities I can think of are:
1) More drilling - seems very possible. They have such a large discovery zone that is open in all directions that it makes sense for them to be more aggressive with drilling so that they can prove up more of the resource before the RE
2) Buy/make a mill - this doesn't seem likely. Not sure how much mills cost, but it seems like they need a lot more to buy or make one. Also, it doesn't make sense for them at this stage right?
3) Consolidate more property - this option makes sense to me. BAR just extended their land holdings and their market cap is sitting at $50 million right now. Buying up their land would add a lot more value for any major looking to buy them ought in the future.