They have 2.8m + 1m = 3.8m after settlement of sale, if they spent a total of 1.2m this quarter, the next quarterly would would still read more than 2 quarters of funding available. So any raise would be in q1 or q2 2025.
They have outlined costs will be substantially reduced and given Silver could be on the verge of a big run there seems no need to cap raise right now given they have ample funds in the context of their upcoming expenditures.
The terms they will be able to get for a raise in Q1 2025 could be very favourable if Silver goes into a little mania which looks likely, then again they might wait it out because they have options expiring March 8.
If these are in the money they will generate a lot of funds from people converting at 6.3 cents given they were basically free at the beginning.
Now that I think about it, the only risk I see of a raise before options expiry would be if the $1m from the sale didn't get settled.
Its been a long time coming for Silver to go on a genuine run and $40 by years end seems very achievable so I dont see any need for management panick now and raise prematurely.
IVR Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
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