With plenty of cash in the bank, there is absolutely no need to raise any further capital in the current poor world market. They raised $20M at 8 cents earlier this year, which proved a very wise decision. I was disappointed at the time, having just purchased some shares at 10 cents.
Once things change in the market and the POG rises (which it will), and the updated MRE is released early 2023, then it may be time to raise further funds. The Board and management are experienced with these matters, acknowledging they have better information than us.
As the Chairman said in the Annual Report, they are focused on
"pursuing a dual strategic focus to unlock the full potential of Pickle Crow - targeting near-mine growth close to the historic deposit, growing the Resource and advancing towards production, while also achieving regional discovery." The excellent drilling result announcements over the last 12 months, shows they have the potential for a gold camp.
I am excited about Auteco's future, and with good reason. LOL.
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