Another Raise Following Drill PermitsIn the last corporate update, Adam said they "wouldn't rule out another raise at this market cap". Personally, I would LOVE to see the company do another private placement after they announce drilling permits, which will likely send the stock higher.
Why? Imagine they issue 10 million shares at $3.5 (if this is the price once drilling starts). A dilution if less than 5% would net them $35 million, which would give them more than enough runway to go all the way to the end of pre-feasibility as well as expand the drilling. With this much money they could likely get 6-8 drills turning at once, which means the resource gets defined even faster.
Don't be surprised if we see another raise from here, and know that if we do that it's in shareholder's best interest.