Ann: Trading Halt, page-16

I actually think the raise will be at this price or greater at a premium. Institutions probably forced managements hand and that’s why it’s a surprise for many in here. The institutions knew they weren’t going to get their target price and amount of shares on market as the price would just keep rising as they accumulated. The best tactic for them is to enter as a sophisticated investor via a capital raise. Likely at a premium since it is still a lot cheaper than what they would pay on market with the current positive trend of this company to catch its peers.
Yes we had more than $2M in the bank, but if we want to expand the drill program and test more targets we are going to need another $5-10m dollars. I don’t see the share price rise momentum getting affected much even with this raise, especially if at a premium. It shows confidence, it ensures safety of continued operations and a lot more drilling, exploration news and assays. More potential for a discovery! Would have liked them to wait another day or 2 for us to get to around 8c but at the end of the day to lock in funds and ensure more drilling is great news Imo.