My pleasure AUchemist. Either way, as long as the raising was close to Friday's close price of 34c, that would be great.
They didn't really need the cash, since they had $4million or 6 months worth of cash at bank.
I'm guessing this CR will allow Siren to aggressively drill out Alexander River and Big River and build that Maiden High-Grade Gold JORC Resource faster IMHO.
The current target is ~750k for Alexander River (down 500metres) and ~125k for Big River (Shoot 4 only).
So 750k-850k Oz in total, so with this extra cash and more drill rigs, 150k-250k of additional high-grade gold shouldn't be that hard to find in this sort of ground to hit that magical 1Million ounce @ ~6-7g/t gold JORC Resource.
There aren't many gold deposits in that 1Million Ounce range and 6-7g/t grade on the ASX or TSX.
Especially with market caps of around $30million which is where Siren is today.
Ann: High Grade Drillhole Intersections at Alexander River, page-8
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