That is the only way to look at it.
Can't keep tapping into the market for rap raises.
Best to find the fastest path to production and then scale up later with cash flow.
Pivoting to RPM to define a proper resource that can be used for studies will require at least another $80 mil worth of drilling to get the resource into Measured & Indicated to be able to use in studies and will probably take 2 years.
Either way more funds will be required soon to fund the next 12 months.
Ann: Geophysics confirms extension of RPM high-grade gold deposit, page-41
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