Hi Jimbo, To raise ATM would be a massive dilution given that...

Hi Jimbo, To raise ATM would be a massive dilution given that the insto's would want IMO 25-30% discount, if not more. The language I got from the quarterly was that we are well funded going forward. CN has said that there is no better time to raise than after a good flow test, and I expect that to be the case. They have a pretty good idea what we have here and IMO if they are prepared to take the gamble of waiting till after the first, if not second well to raise, then its probably much clearer what's there than we all think. In fact, I would be more concerned if they were to raise now because it may be seen as them not being so confident. You would not risk it if you thought there was any chance of it going pear shaped, because then the game will probably be over anyway. AIMO DB