Agree,It would be a placement if there is a capital raising....

Agree,

It would be a placement if there is a capital raising. Most TSX companies do. And I am all for that.

Their spending is quite high, some $4.15 mill (Over $6 mill spent on exploration and evaluation in the last 6 months)

They had $6 mill cash on 30 June. I am not sure what they will spend but if it is the same than they will have $1.85 mill left at end of Sept.

Normally, companies like to have sufficient cash well before they run out. So, they would be in the market on say 1 Sept.

It is about 1 Aug now,so they are a bit early. Then again, some Institutions may have asked to come in before they have to pay a lot more as the results come out, who knows?

Gerry