Maintain my $1.80 PT but dilution risk increases significantly...

Maintain my $1.80 PT but dilution risk increases significantly due to loss of discovery momentum and therefore price momentum.

ADT may not do a capital raise for 6 months so Sprott won't be able to get in until around September? You can bet SCP is rubbing their hands together in anticipation of a future placement.

These guys will need to raise lots of cash to get Veovaca up and running. Read the prospectus, they need to extract ore by 2020 or they lose their license. This is the only reason why Veovaca is in the picture, because it will be easy/cheap to re-commission. But they will need to throw lots of dollars at drilling, permitting, development, etc in order to meet that timeline. I suspect that is why there is a 24 month escrow on mgmt shs to align them with the interest of shareholders.