My guess is that WEL now has enough to keep the lights on and maybe do a hole or two with the funding from SGR for this years option.
Given that SGR is planning an aggressive drill plan this winter on the JV properties, it may be prudent for WEL to hold off on any further PP until the results are in. If there are some good holes, the next round of fund raising should happen at a more attractive price.
Reed Lake has not be drilled yet and is next door to VMS and Hudbay property. I would almost prefer to see WEL start there as opposed to the Burntwood property. If the books are better after the next raise, then Burntwood and/or McVicar.
Just thinking outloud.