RE:Consolidation Usually Followed by Private Placements@ ybacuo - FCU had almost $45M in cash as at March 31, 2023 and the development work being done currently isn't that capital intensive. The cash burn will increase this winter when exploratory drilling of the property resumes but a $15M program would still leave about $30M in the treasury. I don't see a need for raising capital in the immediate future.
"At March 31, 2023, the Company had a working capital balance of $44,201 as compared to $40,860 at December 31, 2022. The increase in working capital is primarily due to net proceeds from sales under the Company’s ATM facility, partially offset by PLS program expenditures and routine administrative expenses."