Three quarters of funding available when accounting for cash on hand and the loan/share placement money. That'll get us through more drilling, grades announcement then another capital raise. Hopefully the SP spikes on the grade announcements, back to >$0.40 - 0.50. We need more info on the latest cores coming out! Keep the news flowing, the investors are hungry.
The register is still tight, controlled cap raises prevents diluting the company to irrelevancy. It's a good strategy until everything is proven up and bigger financial decisions like buying a processing plant are considered. The results will surely have a material impact on the reserves. If we can add a few million into the Measured resource class, we will be laughing.
On the back of this drill program, we could easily increase the Indicated to 7 million tonnes, the Measured to 2+ million tonnes.
The core photography reported is giving me confidence we are in for some good grades here. Some more gold would be nice to help kick things off.
Four weeks-ish until results.
EM2 Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
