Unlikely they will do a capital raising. They have plenty of funds for drilling and feasibility.
Even if a large investor wanted to get in I think it would have to be at a good premium for management to entertain it. The time for institutions to get set was 6 months ago.
Management do need to keep on top of their game to ensure their is enough funding until financing is secured (if they develop the project themselves). Both DCN and GCY have been caught out by running out of cash before financing is secured and having to do capital raisings from a weaker position.
Once the DFS is in we could see some jostling from predators.
Unlikely they will do a capital raising. They have plenty of...
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$1.46 |
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