Ann: Proposed issue of Securities - CTO, page-7

From the last quarterly...
"Active discussions for major project funding advanced and funding is expected to be
in place by the end of the calendar year."

But note that this was toned down in the Chairman's Address issued 2 weeks later
"The 2020 financial year has been a very productive year. The gold price remains strong, with a positive future that is assisting the Company in its funding negotiations."

Also in the chairman's address it was mentioned a 12 hole drilling program.
Probably some exploration licenses were going to be cancelled on account of no exploration.
Hence the need for additional funds.
IMO. Just speculation on a less than spec stock.