RE:Pre-market level 2
DoumDiDoum wrote: OK, focus is on the BEAST now... so what's the next step please? Tickling it a bit by drilling west? Come on, bring it on guys, drill baby drill!
I'm pretty sure the next step will be a financing because I suspect we must be very low on cash. Don't be fooled by the 12M$ cash in the bank, as this is NOT working capital.
I suspect that yesterday's press release was not issued simply because management wanted to be transparent, but because that kind of information needs to be out before you can do a financing. There will probably be a portion of the next financing in flow through shares to go towards drilling, but we also need money to pay for the winding down of NFLD operations, for ongoing Goldboro permitting work and for administrative expenses. I don't expect massive drilling for now, as that would necessarily come with massive dilution at our current share price.