Ann: Transformational Board Changes, page-25

its all in the last quarterly. Details there. Seem to have enough cash for the next Q at least.
Small caps are always in a juggle of raising capital, so never say never.
But the balance is that they awaken the market / re-rate before as data room looks to bring in a JV partner = sp catalyst.
Two things drive price up, more people discover the bet that Next Investors so well illustrated, and a JV partner.
And the negative, that always unpredictable, opportunistic CR that they could also take if were offered at some point.

So its a bet on do you think other people who discover this and think it undervalued given assets / will and want to buy and thereby drive the price higher before any CR occurs ? Or before a JV partner is sourced from the data room.?

Next Investors has unlocked the door a little bit, to let some awareness hence the buyer pool will be growing that must make that decision.