Ann: Investor Presentation Video, page-53

Sums up the company’s predicament well, imo

The company is rushing to complete PEA prior to extension drilling because it cannot fund extension drilling without another cap raise, and a cap raise without PEA will annihilate the shareprice

On the other hand, completing PEA without the additional tonnage achieved by extension drilling may undersell the potential of the tenement and result in a post-PEA raise at a comparatively low price

Fears of dilution have been shaping the shareprice for several months (and will rise increasingly to the fore over weeks ahead). They are now also emerging as fundamental forces driving company strategy too