@WhiteRhino what they need is a solid $4-5mil of recapitalization to buy them about 1.5 years runway and about 1 year of exploration drilling (not resource definition drilling).
They do need to make a serious hit to confirm an economic discovery. Something that gives the market confidence of one. Something thick like 80m @ 1% Cu at a new target.
Problem is that most their raise goes to paying Max's salary & corporate expenses. They only do piece meal raises and always needed to raise every 2 qtrs. existing shareholders have already been diluted into the stratosphere.
At the end of Mar they had $1.3mil cash. Burning around $800K per qtr. So another CR will be required in Q3 after the AGM.
appears to be the same recurring theme. Dilute the SOI by 40% thru 2 cap raises each year.
