From the last quarterly 9mill left about 2.66 quarters of funds...

From the last quarterly 9mill left about 2.66 quarters of funds available .Why raise now ? Was there no chance of raising the sp with news flow raising more money at a better price next year.
If the company only used 3mill this quarter like the last then we should have about 5.5 mill left before the raise.If there is little left then the proceeds of the latest raise wont even last 2 quarters.
There is very little exploration been done so a lot of money must have gone on the Riley ramp up and ongoing care and maintenance. I will not be participating in the cap raise,I will buy some more shares to cover dilution when Ive read the latest quarterly .