I tend to agree with you. Whilst it is pretty unfortunate to...

I tend to agree with you. Whilst it is pretty unfortunate to raise at these levels, the market for explorers is terrible across the board. There plenty of comments on all explorers saying 'why didn't XXX raise back in 2022 when the price was higher etc.'. But most management aren't fortune tellers! MKG did raise a fair bit at higher prices ($35 million), so did pretty well for a while.

They also got a good understanding of the ground too and a solid base to go off. There is plenty of drilling outside of the resource too, so aids well for update MRE on further drilling.

I have faith in the resource they working up (shallow, open pit), as if they can get the resource size up (I think they can) and also find a deposit of higher grade (Tchaga North maybe?), then whoever mines this will have amazing margins I would expect. A lot will be revealed in the next phase of drilling, the results will determine where from here, whether true value is unlocked or not.