I would guess a cap raise would be required in the 4th quarter...

I would guess a cap raise would be required in the 4th quarter with 1.7 quarters of funding left at the current spend rate. My expectation is that this will be done at a higher share price than what it currently is at the moment to give any potential underwriter a higher chance of a better deal and current investors are given a higher degree of confidence in the stock and more likely to pick up options if offered.
The timing of the Chapman's Reward results imminently is what I expect to kick the share price into healthy territory pretty soon. I'll be holding this stock until $0.20 based purely on the ground they have and their minuscule market cap in comparison to their neighbours, plus a bit of speculation. It can only go one way in my opinion because the gold is there, it's now just about proving up the resource which will take money and time. Patience with this one, imo. 1 year from now will be very interesting as has been the case for a lot of other juniors which took off ahead of us and have 10-20 bagged.