Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-10

@Helvetet is on the right track here.

This moderate sell off is a bit market jitters and a bit people taking some profit because generally REE can't have nice things or not for very long. There's no leaks, intentional sell off prior to a CR, etc etc etc.

This is exactly how the company currently operates. The bulk of the funding is on drilling and then metallurgy, admin, etc. Drilling is generally around 7-8 months each year and then expenditure plummets and there is adequate $ for just the ongoing lesser public stuff. This low cash is absolutely what was to have been expected. Given the status of the company having one active project, late Q4 and most of Q1 is the company's lowest financial output in the year.

The tax refund will come in. For the first time, it's mentioned that the company is considering selling some of it's holdings and that's a possibility. There are adequate finances for what's required in the short term. There will obviously need to be some sort of raise in a forseeable future but he'll try and time it with something, eg. resource update in.... March?? Remember, there's not any drilling until April / May, so no particular, known expenditure should be appearing in the short term.

The more likely than not happening, is there's no raise imminent.

In theory, could there be a raise tomorrow? Sure. Could some outlier thing happen and there needs to be a raise? Could be. But on the balance of things, the next raise is likely to still be some weeks away.