We don't need the cash, as we had $5m when last q was released, and have another $6M coming in from the oppies, so I'm surprised by the timing.
Having said that, if we only had $5m left at end of year due to aggressive drilling, that would not have us in the strongest position, and any big fish that wanted in, would be able to suppress the SP until we needed to raise.
With $15M in the bank and good results coming in, there is nothing to hold the SP back, as no need to raise for 12 months at least.
Extremely unlikely that poor looking cores would lead to this type of action this early (but not impossible I suppose). Even if the first five holes were dusters, that would just be about drilling more to better target the deep of what's on the surface.
RDN Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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