Significant re-rating on horizon, page-103

I'm not suggesting they don't do lab work - that would be ridiculous.
I'm saying that one option (and I believe their smartest) is to drill their most prospective area - get initial drill results (I've seen some explorers jus get the first handful of holes tested) then CR off the back of any bump in SP that gives. I'm not crazy enough to think that we'd even get a big bump - but if it got over 1c then they could at least do an offering at the .7/.8/.9c levels

They'd likely need to raise at least a couple of million so we're talking about at least a couple of hundred million shares issued - but at least an attractive strike might create an appetite for them... whereas a raise now with no news at all is a more difficult sell...