Squire I think most people understand the consequences of a weak balance sheet and most on HC will understand even better the consequence of the dilution effect of raising from a low shareprice, neither is desireable.
The reality is we could raise $40Mil now have 15% more shares on issue and still have a weak balance sheet in relation to costs involved in this game, it would only be enough to get us through the initial 6 well program..perhaps..
What we do have is enough cash to get through the first well with comfort and its the make it or break it well....
Will be interesting to see how this plays out..
Cheers Whisky
Capital Raising, page-57
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