I guess the gold price used perhaps was far from conservative. The pressure of a capital raise may come after permitting to cover development costs. In the meantime for exploration purposes they appear to have plenty of cash. Another factor to consider is that most other gold stocks have been pulling back for the last couple of days while SMI was halted so there may be an element of catch up there?
SMI Price at posting:
50.0¢ Sentiment: None Disclosure: Not Held
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