Ann: Investor Presentation - January 2022, page-66

$20-30m to get this drilled out would be good.

Normally a presentation like this precedes a capital raise. Certainly not always, but normally. And as people have said, price action at the end of yesterday showing FOMO about being left behind

Normally after a CR you will also see price dropping to CR price but again, not always (CTM an example of this last week).

When there's enough excitement you can raise at a premium. I think right now, with the unknowns leading to anticipation more than fear, it's not a bad time to raise. Yes, you could wait until you have a few more visible cores and the IP survey results in a month or so, but you risk the excitement coming off the boil a little.

Long story short we need tens of millions to drill this out, and you can only comment on the correct strategy in hindsight... Both options are good now

The sooner we have a JORC resource, the sooner other larger institutional players will be able to buy into CNB, copper ETFs, etc. That's when more volume goes to big hands from tight hands