I think CNB will raise capital in early 2022. $5m is just not sufficient to fund a significant exploration program. May be the capital raise will occur after release of pending exploration results re Nil Desperandum copper gold discovery. Hopefully retail shareholders get the opportunity to add to their shareholding via a SPP at a good price. I think a rights issue is unlikely - not many companies go down this route any more.
Ann: MAJOR COPPER GOLD DISCOVERY 41m @ 4.1% Cu Inc 9m @ 10.3% Cu, page-521
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