I guess the obvious next questions are then, as they are a GOING CONCERN, is:
- Can they raise yet more capital at near all time lows after blowing $14M in 6 months? Not to mention all the prior cap raises that came to naught... - If they do, what will the SP be? And how much dilution will they endure? - If they get the money, what are they going to spend it on? Sure as hell shouldn't be yet more punching holes in the ground
IMHO, this all looks pretty insurmountable. Any funder will currently be looking at the history of previous cap raises and wealth destruction, as well as the calibre of management and their promises to previous funders.
That all doesn't even take into account the falling gold price and now out of favour gold miners sector...
Shareholders would be wise to go back over previous CR announcements and see what was promised then. It's not a pretty picture, and I doubt anything would change after yet another one.
(NB - These are all questions SHAREHOLDERS should be asking MANAGEMENT very soon (if not yesterday). I have posted their contact details on other threads...)
