economic conservative, page-2

I agree with you,
it may be wise to raise capital now rather than burning up all existing cash reserves during the course of drilling.

I am a long term holder of MXR and imho the Cap Raising back in December was a wise move considering the shaking the market experienced in late January. Even tho it meant a temporary decline of the shareprice I am very confident that the SP will recover in due course and get back to old lvls within the 40-50c range.

Anyway, it's better for a company to be nicely cashed up before you begin with such a big undertaking such as the IO drilling.

Cheers