I think the $5 mill will be swallowed up quickly as soon as they hire the drill rigs....it wont go far....expensive.
They may start drilling in May/June.......or they may be trying to push this forward ....this would mean a three to four month window without any additional cash to fall back on.
Also in April they will be changing the name and perhaps splitiing the company in 2 so to speak.
This would also have its costs.
I think they are just making sure they have enough until September and ongoing.
Could they have just lived on the $5mill until September?? .....possibly.....but they also have the diamond exploration and I guess they feel the need to keep that going.
What is it......140 mill new shares........Should only dilute 10% imo or 1-2c tops.
Not a worry in the scheme of things imo.
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