annual report .. any comments

Hi guys, any thoughts or comments with respect to the annual report released?

I note that with 1.3m cash in the bank, and upcoming cash payment of 800k as per the canegrass/heads-of-agreement, that would leave hcy with roughly 500k cash in the bank to cover their operating expenses.

It seems pretty obvious to me there will be a new issue of shares to raise cash immediately after the agm and consolidation to fund operating expenses and the move into mining.

Any thoughts what this might do to the share price .. would this be viewed by the market as a negative (further dilution for existing holders), or a positive (will be producing soon) ?