1). No true drill results that are game changers from Madison, Gooseberry or Tuscarora
2). The acquistion of Constantine will spread their war chest thin if they want to drill any more projects with no guarentee of success
3). Possible dilution to raise more capital to execute their plans
4). No strategic partners found for their other projects as of yet such as Red Hill or South Lida
5). The shares for Constantine constututes dilution and the market is not enamored yet with the deal

Time will tell But the man of many chins and the man who loves all drill holes needs to produce steak not sizzle. the awrad thye are up for means squat to the SP BTW