Sorry bud, it isn't a leaky ship, the information was available to all. MDI were always going to need additional funds to progress the resource to a bankable level, particularly for the new deposits discovered.
I knew we were going to need more cash at some point to undertake the extension and infill drills of all the new deposits, however, I thought it'd happen after this current campaign.
Everyone knew what scope the current cash covered for the campaign and due to the various new discoveries, they were always going to need more cash to expand phase 2 of drilling to have the new resources estimated in the measured and inferred category.
They haven't finished the current campaign, no where near, so my guess is that the money raised is to accelerate the exploration by procuring a second drilling rig to tail.
Yes, If Mr Copoulos didn't sell, the SP would not doubt be higher than where it is now as he has put up an unbreakable wall at 1.3-1.4 cents. But it isn't really that big of a deal except of short term traders looking for quick flip.
Their may also be a strategic play behind this as alot of companies seeking take-overs are really only interested in bankable proven mine ready sites. We need the invested money to advance the campaign otherwise we won't have anything of value...
Either result of a TO or we start mining will yield the same return. I'm calling a market cap of $150-200 Mil
Just be grateful that we are able to call on the smart money when needed, many others hit barricades trying to raise funds and it really hinders their exploration.
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