I noticed the same thing. Seems ridicules. The dilution here is astronomical.
Then looking at the below it appears they are taking on way more than they need. Forecasting $16M remaining cash pre exploration. Is this what they call "contingency". Seems to me they are grabbing as much cash as they can while they have the chance. I struggle to see how this is in the best interest of existing holders!
Ann: Investor Presentation, page-9
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