Hey Lockz,
There are two ways to approach finance, get major investors on board and build the plant you want, or use your own resources to build a plant progressively over a longer period of time.
Heron went with the first. It diluted its share registry some 6 fold, and is now overcapitalised.
Ardea has a huge advantage with the massive Cobalt Zone, with its low hanging fruit. This can be used to start a smaller and more lucrative operation, and the registry stays small. I think management are very wary of the sharks out there who want to gut companies and provide big sums of money for very cheap shares which then guts the share price. At PFS Heron thought it could get finance first, and then went to share placement. The share placement was projected to be no less than 12c. It ended up being 7c through price manipulation by the sharks. Heron now has about 2.4 billion shares out there, and is similarly valued to us. We have 80 million shares, or .08 billion for comparison.
DYOR
BE
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