I’ve been watching on the sidelines for quite sometime. My...

I’ve been watching on the sidelines for quite sometime. My concern is that at 40m odd market cap and from what I understand 200m+ startup cost this opportunity is looking extremely difficult. I just can’t see financing being achieved? Perhaps a significant resource upgrade/feasibility study but that seems like a big ask all while the cash in bank clock is ticking! An additional equity raise would seem likely in any case.
In a similar recent restart event (HGO) you had an equally profitable opportunity to purchase shares after financing was secured (via equity raise) but with significantly less risk.
Keen to hear alternate perspectives.