Ann: Trading Halt, page-15

It does seem strange size and timing to me. Perhaps size was dictated by market cap and level of dilution but you wouldn’t want to be going back to market in a quarter or twos time with hands out and no material progress which given the size they would need to do (confidence perhaps?). Timing maybe driven by the need to stop the falling SP by alleviating fears of imminent CR (haha).
With the DD now at Ongava and MOD today announcing plans to drill down at their T23 prospect during May we’ve got a couple of potential near term catalysts.