Ann: Exercise of option to expand Adina Project by over 50%, page-56

I appreciate this seaemay but i am trying to look at this as a buyer coming in rather than someone who has held for two years. Here's the facts as i understand it:

-they had 40mill cash in bank (close enough to)
-they were funded the way they were operating for well into 2024
-mre expected in 24 (i still think june july)
-have been drilling for about 5 weeks now and 5th drill for a week
-assay error from May due imminently (footwall extension)
-50mt proven with ease
-moved on options for land that we werent expecting to see for a while

why the hell would you raise when li price is 70% down on highs and you're bank rolled?

then how would u justify said raise to the next investor theyre raising to? Instos dont throw good money after bad! They're more in tune with what the company is doing than us plebs with 100-300k invested.

imo they've found something massive in drilling and they will announce it. Wether it's assays or visuals, they are expanding the campaign further to the point existing funds possibly would not have lasted.

im not thrilled theres been a push down, and im the first to admit i get riled up when ive lost 150k in profit from a 40% decline in sp. But ive also been here a lot longer than 95% of those who come here talking smack. The logical side of me says there may not even be any short term pain if you read between the lines.