Ann: Trading Halt, page-8

Given the board is likely to know what the visuals for the 3rd hole are looking like .... so why would they raise capital before the hole 3 announcement? 2 days ago the announcement outlined the delays with hole 3 but indicated that visuals could be shared via an announcement within a week or so.

I can see arguments for a CR prior to the hole 3 visuals being shared as a result of pending good or disappointing results with respect to hole 3. Any thoughts?

Seems the slow flow of option conversions is not enough capital. There are 30M DUNO options at .30c exercise price giving up to $9M. If they raise 4-5M as mooted at the upper end of discussion here --- they could have 13-14M for the next 2 years plus the 3M approx. they have not spent of the original CR ... so up to 16-17M. What does the additional funding need indicate? Do they feel a risk that the options will not be converted? Is option conversion too late? Do they feel they need to fund a substantial drilling program to drive an MRE? We will likely hear more about the application of funds when the detail iof the CR outcomes is shares.