As far as further funding goes, I am banking on the fact that management is once bitten, twice shy from deals that only benefit short-sighted brokers. Chile is still well on the cards and we have a few more bullets left in the chamber before we pull the emergency funding reserve.
I think the market is very, very gun-shy about cheap CR's that only benefit brokers at the moment.
If explorers have stellar projects that are looking the goods on their books, and others that are on the back-burner, it would be prudent to do deals to dispose of non-core assets without undue delay and spare shareholders the kind of massive dilution at bargain-basement prices that we are seeing around the traps.
If you dispose if non-core assets and focus on a couple of projects where all indicators are that you are on the trail of a monster deposit, future raises to develop the project and bring into production can be done when the SP is buoyant, in part due to a lower number of shares on issue. Living from raise to raise with the SP in genuine penny-dreadful territory while hanging on to non-core stuff is a recipe for massive dilution and an unhappy bunch of shareholders.
Until people see sufficient funds in the kitty to keep the lights on plus fund exploration activities - without another heavily dilutionary CR I believe people will be wary of adding significantly to their positions.
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