The filing for the financing was dated the  24th of March.  It was published yesterday, the 29th, after I checked and before I made that posting.  Check the top and the very bottom of the notice for dates.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1172178/000149315223009484/form8-k.htm

So, yes,  it does appear that loan sharks are still supporting the death spiral because they remain secure in their sense of being able to sell shares at a nearly guaranteed profit; good for them, not so good for shareholders without significant progress on the exploration front.  And there can be no significant exploration without a partner.  None have come forward, and none seem to be in the wings, ready to bust upon this stage.  Most always, shares acquired in these types of financings result in ever lower share prices.

https://www.investopedia.com/terms/d/deathspiral.asp

[The above link is for others; I know you understand these things.]

In regards to Red Rock Canyon (RRC), I understand that others passed on filing claims there, even the one who published papers proving that the Tombstone area was part of a caldera, supporting the Caldera Theory of economic mineral formations and, by extension, the notion that there is more to be found on the margins and within the Tombstone caldera. 

My sense of RRC is that Mr. BIG wanted to build a name for himself as an explorationist, removed from the contributions of others.   I believe he was so motivated to do so that he could not recognize his lack of experience in mineral exploration and grabbed onto some bit of supporting evidence at RRC for that purpose (while dumping all other company claims except Hay Mountain. ...again, just my take.

Repeating from earlier postings, I am a big fan of Hay Mountain.  I will buy with both hands stock in whatever company controls these claims when it looks as if drilling there may soon be possible - even under BG (as unlikely as I think that is).  However, something can always come out of left field, so I keep watching.

VP