Agreed, I wasn’t expecting this for a few months—possibly after the metallurgy and titanium drill results.
On the upside:
- Stable Cash Position: We're not in a dire cash situation, which means we can limit the discount. Last quarter, we had $2.7M, and given our relatively low burn rate—even with recent drill programs—I’d estimate our cash position is still around $1.5M–$2M. Additionally, we have a strong pipeline of projected news flow that should attract investors ahead of key announcements.
- Sufficient Capital for Key Milestones: This capital raise should provide enough funding to see us through to a mining decision while still allowing us to drill out the uranium and titanium. Any positive news from our other assets should boost our market cap, reducing dilution when we eventually raise capital for production.
Colin has handled capital placements well so far, with minimal discounts. In fact, the 2022 raise was at a 10–15% premium, which is promising.
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