A financing just before possible game changing Oatman hypothesis results?

Arizona Gold plans $1 million full warrant $0.30 private placement

Arizona Gold & Silver Inc announced on August 28, 2025 that it is doing a non-brokered private placement of $1 million in the form of 3,333,333 units @ $0.30 with a full three warrant at $0.40. A finder's fee in the form of warrants will be paid. The proceeds were described as intended for "further exploration and drilling of the Philadelphia property in Mohave county, Arizona, and the advancement of other company projects, as well as for general working capital purposes", basically boilerplate usage. The company still has about $2 million working capital earmarked for ongoing work at Philadelphia. On August 14 Arizona Gold had issued an important news release about hole #156 which has been rushed for assays. These assays could confirm the Oatman Hypothesis that the lower untested 300 m segment of the Philadelphia vein has a much higher grade than the upper part of this low sulphidation epithermal system (see Substack August 20, 2025). That would support the Oatman target outcome of 1.5-2.0 million ounces at 20-30 g/t and ignite S-Curve market action.

The market reaction was negative, trading 2,632,000 shares to close down $0.05 at $0.30, with National Bank, a Canadian brokerage firm, dumping almost 1.5 million shares. Does the company already know the Oatman hypothesis is a dud and is reloading the treasury before results tank the stock price? Or does the company already know the results will validate the Oatman Hypothesis and is letting somebody front run the news with a lucrative financing? The company does not yet "know" anything about the results and the timing has a different explanation than these cynical ones about how some segments of the Canadian junior resource sector do behave.