Perhaps management have been busy planning the drilling program in recent weeks, and it kicks off earlier than July/August? Personally, I wouldn't be surprised to see a drilling commencement/planning announcement in the next 1-2 weeks.
It is likely that management had planned and factored this capital raise in for a while going by the share price holding in the channel around 16c for weeks, so clearly some parties were anticipating this and not letting it break out like our peers have done in recent weeks.
With the approx. $2.2M in the bank and $4.6M loan (if required) which was at their disposal prior to the $6M raise, they did not have limitations to fund drilling so IMO they have been busy organising permits, contractors & personnel, drill targets etc.
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