Upcoming FinancingUpon further reflection of the earlier NR, it was indicated that CD may raise "up to" $ 3 million. I have a feeling that the CD management may not wish to raise the entire amount(at this price) in one financing. Of course only the management knows at this time and perhaps they are still trying to figure out what would be an appropriate sum in order to put in place a cost effective drilling program with as little dilution to the shareholders as possible.
If CD was to concentrate a drill program on Al Masna (perhaps more holes on Al hariqah) and one or two of the "drill ready" Nevada properties to start, how much money would this require? $ 1.5-2 million ? It is a trade off for sure on which property should get the most attention but I will stick with Al Masna as being the first priority for CD. One would hope that early drill results will be good enough to attract other investor interest in the company and a corresponding increase in value should occur. Of course there is always the flip side to the coin but I will stick with the positive because Al Masna will bring success.IMWD.
CD can always do supplemental financing down the road anyway. As CD controls 100% of all of the Yemen properties, perhaps it would be best(more rewarding) to prove them up further before signing up a JV partner.
Well the clock is ticking and the AGM is 15 days away. It is just a matter of days before a financing is closed and the teams gear up for drilling. It's about time too.