Yes I'd agree that a smallish cap raise is required at this time...

Yes I'd agree that a smallish cap raise is required at this time and that's keeping the buyers away. If they forthcoming assays are excellent then maybe the price will pop back up a bit. However the whole market is experiencing a shortage of buyers, especially in small caps, so it doesn't take much for a share price to fall and no buying support with an imminent cap raise.

Besides that the news is still promising for the actual mine itself. From here the best outcome would be a small cap raise - enough to see them through the rest of the drilling until (hopefully) the off-take agreement bears fruit. Perhaps after that cash-flow might support future exploration and proving up the resource. Still lots of risks, good upside if it works out.