drilling underway and another drilling program will start in April so any day now...
Drilling fully funded by JV up to 1m. Cash 1.3m and market cap 4m.
ARM owns 45% of the company and took 285m heads in recent raising of 650m shares at 0.2c.. So ARM kept their original position.
Another holder bought 50m shares in cap raise and then bought 6m in the market as well. So now owns 6% of the company.
EQT was holding 6% before the raise and took 134m in cap raise and hence increased their holding to 13%...
In other words, large chunk of this raise was taken by these 3 holders... no wonder supply is so low...
Now the reason I think it can do well:
other than the drilling program underway and fully funded by JV, check this out:
Their lease is 4- to 50km away from NCMs Bonikro... Bonikro produced 120k ounces in financial year 2015...
Newcrest has also established a West African generative group which is currently assessing a range of gold and copper opportunities across the region from greenfields projects right through to producing assets.
P.s please double check facts and figures before you even consider PDI...
