Ann: Advanced Carbonatite REE Project Acquired, page-117

Ignore him and Roch they will pump anything with whatever they can come up with.

I would have a guess they went with the cap raise straight off the bat because $2m doesn't last long when you have a 10,000m drilling campaign currently ongoing that commenced after the last quarterly cash date (how much already spent on drilling?) + if they want to get some diamond holes going as early as April need some in the kitty for that.

Get the raise sorted and churn over any flippers whilst there's the post-acquisition interest. Should see a sustained rise with news flowing through of the current program + getting closer to starting the diamond drilling.