RE:More dilution now I think most people following this stock suspected SIC would have to go to market before year end. Ironically, they may have been holding out for as long as they could hoping the share price would rise, only to see it steadily drop from 0.25 - 0.30 in January 2023 all the way down to a recent 52W-Low of 0.055 before "surging" as high as 0.065.
Since they likely didn't need the money earlier in the year to fund the operations they wanted to execute at that time, they rolled the dice apparently hoping for a major strike and a subsequent spike in the share price that held up before doing an equity raise. With most junior gold explorers taking a beating this year (and SIC being one of the worst performing stocks among them), the combination of disinterest in the space plus lack of anything of note in their drill results proved very damaging to existing SIC shareholders.
I've never owned any SIC shares (just followed the name out of sheer curiosity). That said, my personal approach is just because a stock goes down in price doesn't mean it becomes even more of a bargain and thus "averaging down" is a smart move as the share price can always go lower (unless it goes belly up). I have sold more than a few stocks at a capital loss over the years as soon as I realized I made a mistake or events didn't unfold as anticipated. I see no sense in throwing good money after bad by averaging down, nor sticking around if management becomes suspect and/or when the odds are long that things will pay off given how events are playing out. I sell and move on to companies in which I am more confident. Just food for thought....