Firstly, I'm just happy the company chose not to do a SPP as...

Firstly, I'm just happy the company chose not to do a SPP as SPP's are a waste of time at this end of town and create too much overhang on the SP while the SPP is dealt with.

Now, as for the 10c CR... yes, it would have been more ideal for the company to do it at 15c, no arguments there.

But, a CR prior to drilling Weld North makes a ton of sense to me IF it's truly a 50/50 flip of a coin as to whether it's a BIG DEAL or a duster. If it turns out to be a duster, you'd expect it to be more challenging to raise funds post a fail at Weld North.

I still hold for the assets within the company and their potential as I do believe rare earths in particular have a bright future due to the current reliance on China (not to mention all their other assets)... but I will be watching JR's actions more closely post this CR, that's for sure.

If Weld North HITS then a sub $50M market cap will be a very distant memory very quickly. If it misses, there's a ton of other assets that can provide future upside...