Raising fresh capital is an absolute necessity for this company...

Raising fresh capital is an absolute necessity for this company and the market is savvy enough to appreciate this fact.
If I were Ian I would go back to the instios and big shot investors supposedly enticed 15 months ago at 10c. Try a placement with this crowd suggesting its time to double down.
Just one successful exploration well could easily see this back at 5 to 6c. At least they would be near breakeven which beats their current 75% loss and if more than one well is successful, they could actually make a dollar!
Jaw boning will never get this above 3c. A new FUNDED drilling campaign will.