Quite simple.
The last investor presentation was only 2 months ago. It inferred that the DFS would be finished by march 2022 and that the funding would likely be sorted by april 2022.
Less than a month ago, we had a financing update stating that it is well on its way, with numerous letters of interest from large potential financiers.
The last quarterly showed 30m$ in the bank with a 7m$ cash burn in the previous quarter.
I was simply hoping that they could push it over the edge without a raise (or a small one) to minimise dilution until we get the DFS and funding sorted. Which, in theory, should have seen a higher share price due to the de-risking of the project.
I didn't expect either that they would still have to spend so much money on the DFS, test work and working capital so close to these deadlines.
Detailed engineering I'm perfectly fine with.
Timing is everything and dilution at low prices hurt forever.
I'm getting a 30k$ dividend from GRR that I was planning to put in QPM, but I'll have to wait for the ann of the raise and probably sending a couple emails before doing so.
