It's no secret that exploration companies need funds to keep the...

It's no secret that exploration companies need funds to keep the lights on & keep growing, so they'll have to underatake a CR at some stage.
Personally, as stated above, I don't think it's urgent.
Similarly, there should be a sh-tload of newsflow to come before requiring any CR - any piece of which could be game changing.
I follow the screen pretty closely & have been an investor for over 40 years (perhaps I'm getting too old for this), and the price action doesn't reek at all of an imminent CR to me.
However, if this were to occur & it all went to a strategic party - preferably an insto rather than a corporate; I wouldn't be against that.
Similarly, if it went to a corporate, depending on who & the terms, it could also be very bullish.
Time will tell.