capital raising

Like everyone else, my initial reaction is negative whenever I see the company raising capital again.
I remind myself that I heard Norman Seckold hates shares dilution and if the company has to do it now, it must have a good reason. Being the largest shareholder of CJO, it would hurt him more than it hurts anyone of us.
They plan to start drilling in Namiquipa in April and I presume they need the money to get it ready.
Based on our assets which are not fully priced yet, we can easily absorbed the dilution of these new shares and I think the price will continue its march north quite easily.