Reading between the lines the spp may not have had the take up they were hoping for. This is pure speculation on my part, but if the average take up was for $5000 this only requires 200 people to bring up the $1 mil. We should not kid ourselves this is a junior gold miner so there are risks but for mine they have the plan worked out for the next several years and on a risk reward basis this is almost a no brainer.
Reading between the lines the spp may not have had the take up...
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