Ann: High-Grade Gold Drilling Underway at Black Range, page-20

If you were Legacy, why wouldn't you wait until:
1. You're getting close to needing the cash - think we're still a little way off as the roughly 2.7M still remaining in the bank only needs to cover Blackrange and Drake for now. That's a lot of drilling and desktop/geophysics.
2. The share-price is much higher (hopefully) post discovery hole. Share scarcity for now will help drive the price up, especially on a positive announcement. They'll then get more bang for buck on a cap raise.

It might be nice for investors wanting to get in or top up, but not great from a company strategy perspective I don't think.