I think they had anticipated a better market response to the RE

The plan was to raise 10 million by a PP at a much better share price

Since the response to the RE was flat, Elmer was reluctant to dilute by 10 million shares for the ongoing exploration

The minimum to finish up the FS, cover the new claims deals and provide a significant minimum of drilling in the new seaso was all that was sought

I assume they feel they have enough with this funding to get them to the next step