well, they finally announced the cash balance and its below...

well, they finally announced the cash balance and its below $850k - really low and it's for the end of last year. so it must be below $400k or something now.

what have they been doing all quarter? this capital raise should have come months ago so they could get on with things.

i just hope they raise a lot of money for your guys sake. they really need to get a lot of cash behind them so they can get moving again.

my guess this capital raise will be around 8-9 cents because of the share price. i can't know for sure, obviously, and I might be wrong with my guess. but my logic is that they need to apply a discount (likely 20-30%) to the market price VWAP. I'm not sure what the VWAP is but the recent days' trading activity below 10 cents won't help. so let's say the VWAP is 10c, you'll be looking at the raise price being 8c or below. that's why I say they should have done it sooner when the share price was around 12+ cents; of course, the VWAP may be higher than 10 cents. so my best guess for the raising price is 8-9 cents. it definitely won't be at 10 cents because that's the market price IMO.

hopefully they raise a lot of money to fund the drilling

let's see what happens in the coming days