Just took a look at Financials and trading history for past while. Given the number of shares outstanding todays volume looks pretty good and price fairly stable. I paid bit more than needed to, can't win them all, but not unhappy.
Seems solid support at current levels which is a nice platform for aggressive move up when some news backed by on the ground results come in.
Probe needs cash to support exploration as it's darned expensive to put people on the ground and support them there miles from civiliation. My bet is that management are doing what they can to get any kind of geological support for there being a deposit similar to Noront on PRB property. With that in hand doing a private placement to raise cash at higher share price could be done. Alternative is to give away part of property interest to get drilling and other things done by some other company (more expensive in long run than dilution).