Ann: Scout Drilling Intersects Cu Au and Mo at Quelon, page-4

But if they use their whole 25% placement capacity and do a discounted CR, they'd be able to raise like $800K max. that is heavy dilution to all existing shareholders.

That would barely be enough to meet the next expenditure milestone at Lana Corina let alone enough money to acquire any other projects.

That would also mean they'd have to ditch Quelon and Las Petacas.

They are in abit of a situation here & not sure how they are going to get themselves out.

There are alternatives like doing a raise at a premium or recapitalization. Which is why no one is buying until their cash concerns are resolved.