I agree that keeping cash in the bank is not the best in an...

I agree that keeping cash in the bank is not the best in an inflationary environment, but raising at lows would be worse in my opinion. I'm not saying keep all of the cash I'm saying have a rainy day fund, who knows these prices could last 3 months or 12 months or even 24 months. If they started months ago there may now be a premium built in due to the record prices, if they can get a steal of a deal and it makes sense sure. I have seen numerous resource companies buy at the top then either have to write them down or flog them off for a massive loss a few years later, destroying capital.