RE:Update Planned Spending
At March 31, 2021, cash and equivalents totaled approximately $71 million, and in April 2021 the Company took advantage of an opportunity to complete a flow-through financing for gross proceeds of $20 million (net $18.5 million) at a 58% premium ($0.95) to the then market price of the stock thereby minimizing dilution. Surface, underground exploration and corporate overhead expenditures for the balance of the year based on the revised underground exploration plan discussed above are expected to be approximately $55 million, leaving the Company financed into 2022.