Ann: Successful Closing of Private Placement, page-8

I think the fact GXY sold their Argentinian tenements for USD$280m yesterday provides an excellent catalyst for a re-rate into drilling for DHR.

The EV here (ex-cash & LKO shareholding) is under $6m. (See page 11 of the investor presentation last week which nicely highlights this)

Share Price - 2c
Mkt Cap - $35m
Cash - $900k (which increases to $4.9m with this raise)
LKO Value - $28m

So net EV is $6m... the $4m raised at 2c doesn't change that except increases the cash from 900k to $4.9m

End-Users are paying bid $$ for quality assets & I think this is an excellent risk/reward play given the EV of $6m & GXY sold their JORC compliant dirt (essentially) for US$280m

Drilling has begun & the first set of visuals are perhaps 1-2 wks away at most... They are targeting this area




If they intersect anything near those widths with those grades, whoooooooooooshka