I am fully aware of stated intention of all raises. This current raise is for the dfs and I think will get us to next may or June. U pfs which will form the basis for the dfs is complete prior to them getting the money from the current raise and I'm sure they are delaying it's publication slightly to help turnover any flippers such as pato's from this current raising.
Pfs upfs dfs all a spectrum and without u pfs then the dfs would have taken longer in my opinion.
18months ago they hadn't even completed the acquisition let alone upgraded the resource twice and done a pfs. Not sure why you think there hasn't been any progress? Of course it takes 4-5years at least to get a mine up and running, which we should recognise as a positive as it gives us a head start over everyone (except gxy, taw,ajm, and pls).
They could have delayed this raise until after updated pfs was out but the fact it was a rights issue (renouncable at that!) means that it is not dilutionary if you participate and actually in my opinion advantageous to holders rather than diluting to instos.
Anyone investing in junior miners needs to be fully aware they need capital and there are only a select few ways they are going to get it and one of them is of course from their own shareholders. I'm fully aware of that and there is a good chance I'll be getting my cheque book out next June, and if not then I'll be diluted. That is reality.
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