Ann: CEL Continues to Progress Large Scale Ecuadorian Projects, page-20

Plenty more news to be delivered by the company over the coming weeks + months.

You also forget that there's $1.7mil of in the money options due to be converted before month end. The company stated they are good for funds until next year (not including the pending $1.7mil), so if they decide to go in the second half of the year, you can bet it's for the right reasons and on terms are decent good for the company.

Judging by how the company completed the last raise, when they decide to head back to the market you know they are going to be quite considered as to how this is done. With the CEO and Chairman holding a significant amount of equity in the business, it's in their best interest to reduce the dilution as much as possible on the path to the promised land.

Companies pre revenue will always be cum a capital raise and if you live in fear of when this will occur, you end up missing the bigger picture at play and the value that is created along the way.

With a market cap north of $100mil they will now be on the radar of a few offshore gold funds.