Ann: Mt Carbine Hits Bonanza Grades Under Open Pit, page-186

I am at a loss to understand what is going on here.

For me, these guys have been great at hitting targets within the time frames they have set. With the first feasibility (stockpile) due Q3, so in the next few weeks, why are week seeking cap raise right now when by all accounts we have good news coming re the stockpile?

In addition, BFS on the open pit is due Q4 and in that time we are supposed to also get a resource update.

Most recent cash-flow statement suggested there was enough to keep going, even with the extra plant and exploration costs, (which are largely one offs)

Indicators have been that debt funders have shown interest aswell.

Worse case we have had a greater cash burn rate than expected (in two months ???) ....the optimist in me says this cap raise is part of expansion plans to open up the mine and maybe cover shortfall that debt funders have not been able to take up.

No evidence to back any of this up.... pure speculation. Anyone else care to crystal ball? (AKA hope)

For the record I have been following this for the last couple of years and believe that the value is there in the ground (which has never been in doubt) and have put my money where my mouth is with over 5 million shares. The big question remains as to why the SP is yet to really reflect this and will it ever?

GLTAH