While we wait for further info from the company on the finer detail of how much for how many.
The company had around $10 mill end of June, if as speculated they raise another >$10 mill, the company either have a farm-in partner lined up or another CR early next year or both.
$20 mill won't be enough to cover regular day to day, drill/log/flow test Icewine#3(?) and provide contingency (for the just in case) post drilling.
It's a regular playbook and as always timing is crucial.
Just my thoughts.
Cheers
While we wait for further info from the company on the finer...
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