bfs and next cap raising

Wow - what a day!

BMN is now the only stock in my portfolio above my entry price, and I have obviously given back a lot of profit there.

Anyway, I am going through all my stocks and looking at how they are likely to fare going forward. My biggest concern for most of them is that they may have to do capital raisings at these very low levels.

So, from the latest quarterly (end 30 Sept) BMN had $8.1m cash, and had spent $3.2m in that quarter on exploration etc.

If that level of spending has continued (and I believe if anything it may have accelerated) they would currently have about $4.5m cash left - or enough for just over 4 months exploration.

Obviously the BFS is going to be a significant cost, and there will need to be a cap raising before that begins.

So, do you think that with the resouce upgrade coming in the next week or so, and hopefully a bit of stability in the broader market, BMN will be able to raise money at a share price north of $3? Last week I was confident they could have raised money north of $4 after the upgrade. Now I don't know what to think. Is it likely that this cap raising will be completed on the TSX?

Thoughts?