It's a nice story and if the ore body continues below the fault at 450m, then jackpot. My only concern is that there is a lot of deep drilling to be done and not much cash in the bank?
$1.8mil in the bank and $512k planned for June quarter. So that leaves about $1.3mill by the end of next month. Also, don't like that about 50% of the planned expenditure is staff and admin, not much drilling for $200k...
Anyway, apart from the fact they will need more cash soon, i'll keep an eye on it... SP has had a run so at least the CR will be at a higher price!
Dancing in the Dark!, page-11
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$1.78 |
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