We're about 6 weeks before drilling commences in early April. They will have enough cash to fund drilling program but the piggybank would be left very low. I don't think they will risk it. I think they will top up beforehand. Last cap raising they suspended on 18 May and completed the entitlement offer on 25 June. Drilling also started 25 June.
Just my opinion.
Ann: Antipa to Commence Major Greenfields Exploration Programme, page-25
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