I am sure management will be doing all they can to avoid a capital raising at these levels. I cant see it happening below approx 6c as it will not show much confidence in the companies growth since the last CR. $3.7mil is a lot of cash and if they are careful it could ride us out at least 6 months while exploration/drill planning activities and commencement of drilling are undertaken on these gold anomalies. Potentially even later depending on how the drilling contracts are organized, eg - if the majority of funds are paid at the end of the campaign, following certain milestones etc.
I hold another stock that has had under $1M in the bank for over 6 months now and yet to commit to a capital raising while they await assays returned which will hopefully boost the price. We have assays returning in January so IMO it will be at the earliest after this assay release (depending on how positively the market reacts and SP improves).
It is definitely not the time to be fearful about capital raisings, we are a while away from that IMO. Also if we form a JV with a cashed-up company at these new targets it would prevent the need and rush for our own CR as well.
