The math here is very simple -- they need atleast U$25 mn more...

The math here is very simple -- they need atleast U$25 mn more at this stage, maybe more.
Stock at 8c -- any future capital raise will come at atleast 20% discount. so cap raise price at 6.4 cents.
Current market cap is U$58 mn, and they need another US$25mn = 46% dilution. This 46% dilution at a discounted price of 20% (6.4 cents) = 3.4 cents. Stock finds a base at 3.5 - 4 cents as capital infusion gives some visibility.
This above is the most likely scenario - with IFs at every stage -- can they raise, when do they decide to raise, what will be the price then 7c/6c? How much deep will be the discount on that price? Will the mine still work?