IPO Day!, page-185

If we were listening to the "market" it's full steam ahead and things couldn't be better.
However, raising money requires a foot firmly in reality, and I'd suggest that US investors are preparing for and are currently in, a recession, the market is just waiting for the formal announcement.

It's been obvious for some time that it isn't a great time to IPO, so I wouldn't be preparing for a pleasant surprise, however the IPO needs to be done to prepare for the future, so give up as little as we can in order to get listed. The drill campaign is obviously scaled way back now, however we will have plenty of cash to progress the studies for the next 12 months, hopefully gold is above $2500 in early 2025 and there has been a bit of interest returning to the sector.