So they have spent approx $4million this past quarter still with $9million in the bank. I wonder why they need this cash now? Why not wait a few months until more drill results are out, a resource upgrade has been made, and possibly a higher SP and raise at less dilution???
I am expecting some aggressive drilling in the coming months. And maybe they need some cash to get the Old Pirate ore out of the ground and get some gold bars from early production. Will be interesting to hear their reason for CR.
GLA
G$
trading halt, page-10
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