Why the capital raising now and why the discount? Weak management sending the wrong signal. Call me an optimist but I think the use of some of the $4.7 million already in the kitty could have been spent on successful drilling to get the share price higher - then do the cap raise.
It is what it is I suppose so I urge management to get on with the "aggressive" drill out at Southern Lights and while you're at it deliver the Silver Ray PFS without further delay!
Ann: $6m Share Placement to Accelerate Southern Nights Drilling, page-12
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