They had 2.8 million last Q, before the drilling in May, so I'm guessing the cash balance is low so the raise is expected. Without the backing of any substantial holder the spiral continues and the 20% discount with will happen. There have only been a handful of explorers raising at a premium to one or two investors... I don't hold much hope for AON, although id be happy if I'm wrong!
Producing no news or update in the last quarter is abysmal.
Ann: March 2024 Quarterly Report, page-15
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