Agree, they'll need $20-30m to drill this out to a resource, but as you say there's pre-paid on the immediate costs.
I'd assume that they'll look to raise in the near-medium term depending on share price performance and results. Before anyone shouts that down, I'd assume that if they can get this to 45-50c you'd likely see a CR with bigger institutions for a $20m+ piece of the pie to allow for feasibility studies on DSO and to also allow for the district scale drilling.
It's all positive
Ann: Investor Presentation, page-3
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