"I think this is probably a big reason the share price is...

"I think this is probably a big reason the share price is staying where it is."

Yup, one of the reasons alright - amongst others.

There's also this current CR having to issue another circa 730M new shares.
Then there's the attaching oppies for same, though they are up for shareholder approval.
Imo they'll definitely get approved anyway.
So with the new shares plus the related free options, there's another +1Bn shares for the registry.
The cost of that service is an extra few million to the Brokers as well.

How they spread that new $2.7m around the many international projects, rather than trim their focus to maybe just one area might be interesting but I doubt it'll last long.

Oh, there's one other little item to note re Oppies.

Mars Mines were issued 600,000,000 oppies to 'sell' 75% of their interests to GMN.
Those oppies were listed on 7th August 2023 (dyor)
They had an escrow period of 12 months....
I'd have thought there would have been another ann noting that there were another 600m new shares issued over two weeks ago, or am I missing something ? Is it another so-called 'administrative oversight' ?
Mr Evans appears to be the administrator of those shares, no surprise there.

Getting back to reasons for the s/p is staying where it is, Mars &Co have that 600m overhang, 730M new shares issued for this CR, using a Corporations Act reg to not disclose this new major shareholder (see recent Cleansing Statement) and not much quality to multiple announcements on exploration other than 'anomalies'.

Incidentally, back in Nov 2021, CGB used the exact same regulation (6D.2) in raising $1.8M via 180Markets when they already had $10,000,000 in the bank at that time - again, dyor !
Part of the wording in that fiasco was also 'Cornerstone Investor'...
Obviously there are small differences here, not least of which is desparation for cash.

Good luck holders, hope ye hit paydirt.

Cheers