Ann: El Palmar - Additional Targets Identified, page-182

Management has said straight out that there will be no credit raise in the short term. They have $15-20M in the bank and equity. Read last couple of announcements for verification. I have also spoken to Malcolm Norris and he was clear that they have plenty of $s to move the processes along at both deposits (may even consider additional rigs ) and continue with studies.

I'm not saying there will not be a CR at some point, just that it won't be in the near term. Especially if drilling continues to succeed, they will need more rigs and more money...later in the year.

Also worth noting they are confident of increased copper/gold. No point raising now when they can do better.