RE:RE:Home pageStock is acting like a cash raise is coming soon.
This seems to be a likely possibility ……. The seismic survey will be completed this month and reported on by management next month.
New investors would clearly prefer to subscribe before a stock accretive announcement were to be in the near term.
I would not be surprised if the early soundings from the seismic survey are indicative of greatly increased drilling prospects.
In this scenario, whilst directors are not in a position to divulge preliminary seismic information to potential investors, their position would be untenable if investors were invited to subscribe, in circumstances where the directors knew that the preliminary seismic information was not encouraging.
Therefore, it seems that a fund raising would appear to be indicative of positive early seismic developments.