With the overall market being the way they are, it looks like a smart move to raise the equity when they did.
It probably gives them the breathing space to get the next plank in place. When that is done there is a smaller gap to finainal financing.
With these things, often we don't like what we see but they turn out to be the right move. (Mostly because we don't see the whole &/or big picture).
As I've said before, mostly elsewhere,
We're not the ones at the coal face,*
- cutting the coal. We're the one's at home complaining about hubby coming home black and filthy.
All IMVHO.
* thought I'd finish the allegory this time.
Ann: Successful $14 Million Placement to Advance Antler Project, page-17
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