So you know the company is doing an on market buy back right? The direct opposite of a cap raise. It's returning money to investors and cancelling stock on issue.
You may be right though, the company may need to raise at the end of the year or next year. But that raise would be at a price higher than what they will be paying for stock now, and the raise would be for something like developing an entire DSU (or DSUs). They will not need to raise to keep lights on or dig a few wells for proving up resources.
Ann: Quarterly Activities and Appendix 5B - March 2023, page-27
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