Directors buying shares, page-288

I did not ask him anything too specific apart from “is there enough cash at bank to get us to the DFS release?” and the response was yes.

This is my completely personal take on the current position:

1) The general market is in a lull so it is not a great time to release the DFS and pursue funding.

2) Tightening the accuracy of the DFS numbers will assist lenders to gain confidence in the project and reduce lending risk.

3) A few months of delay may result in the metals prices moving upwards after there is a flight to safety (will occur at some stage), presumably lifting the share price together with the release of a half decent DFS.

4) As the planets align, a capital raising will be at a much higher price. It is clear that the company wants to limit the shareholder dilution.