why this share price cannot go up...it's because they have no money. They are basically broke.
Yes, they will be able to raise more money in all likelihood.
If they wanted, it wouldn't take much to have all the warrants in the money. And get the holders to exercise them. But guess what. It is the same players in the game as when they did the rights offering. And the price was brought down from .06-.065 to 4 pennies in no time. then they did the rights offering at 0.034.
Those who have the warrants... they don't want to exercise them now. They will probably participate in the next necessary fund raising activity. And they want to do it at as low a price as they can. They have a vision for the company, and someday the warrants will be in the money in the case of a buyout etc. But right now they don't want a higher shareprice.
It has been the same game going on for years. Just wait and see.
They could get the shareprice up, and the warrants exercised. But they won't. There will be another highly dilutive fund raising in the near future. With the statement that the monies will be used to start mining gold and bringing in revenue. Someday there may be a buyout. Or a tolling agreement. And the insiders know what is going to happen. But there will be another cheap financing first.
JMHO and it pissses me off.