Technically they could have waited, but not a good move, if you...

Technically they could have waited, but not a good move, if you have someone offering cash, take it especially at a critical time like drilling, not release results then raise, they raised sufficient amount it seems to perhaps get them till some decent amount of results are out or even a MRE.

If they waited and results are good but share didn't pick up and these investors may not be there anymore, then we may be stuck or will have to do at a deeper discount. This way drilling continues then more raised at a much higher price, with continuous results and a good MRE perhaps.

We already know from the past announcements the results are good, just that it is not JORC compliant, a real pity really, the company has to spend money just drilling the same hole literally a few feet away just to get it JORC compliant, real waste when this could have actually be used to define a larger resource but thats what the ASX requires, so explorers have no choice.