Feels very much like PRD before its placing. If they are doing it, best as soon as possible and get it out of the way. After that, it will become a buy again.
Remember only bullish, rampy statements were allowed on this board and anything other was labelled FUD with the poster chased and abused. You and others created an echo chamber and newcomers lost lots of money as a result.
Let's just hope they don't go the convertible debt route. Sarah Cope (ex AAOG) would be up for that and her presence on the board is my most serious concern regarding this company.
They won't involve PIs because it takes too long. Placing subject to shareholder approval also is a non starter since the time frame would likely run over the drill result.