The key issue from my perspective about the doubling of the budget is the value uplift from finding something in '18 may be ten times that of finding the same deposit in '19. As next year the company will need to raise circa 50 mil( as it's equity contribution plus bank funding) for it's part of the processing plant cost. If they find something and the price rises to say 20c then the number of shares that need to be issued shrinks dramatically raising the value for existing shareholders enormously. So drill hard and early to maximise value for existing shareholders, rather than meander around and find the same thing in '19 when the number of shares and share holders has blown out I say.
MOD Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
