fully diluted at that time of the day WA1 would have been 350 not 330 their price didn't fall off the afternoon. , did you apply the same method of pricing to both ?
most punters , investment, brokers, and financial sites use ordinary shares because of oppies ,performance warrants and unquoted etc dont always get exercised ,however benefit of the doubt it may be your preferred method
now before we get further into a semantic battle and we are moving away from what you were actually trying to say which is because we haven't had a high grade niobium hit our MC is too high
All the unobtanium EV style minerals are sexy righty now ,but the reality is the world is going to need the Infrastructure metals first especially India think RIO and BHP going all out on copper and Nickel same with other big miners ,There is alot more to ENR than the West Arunta
Sticking with Copper our Australian leading geo team ( reserch DR Dr Jon Hronsky OAM - absolute legend in Exploration in Australia ) Used the unique method of Accessing farmers and livestock Stations deep water bores to map out copper distribution all over the NT and also saving a bucket load on drilling costs
created a massive land holding that has attracted 60 million dollars of farm ins ( a very large chunk of our enterprise value can be quantified right there ), including the very exciting Jessica with S32 all the way up to scoping study not just drilling , which after initial studies got significantly expanded a month ago see ann
But I know you guys you want to see those sweet high grade intersects so .lets get a cracking shall we .......
ENR's Lamil intersect have -
gold upward of 21.5 g/t - over 5 g/t gold is high
silver grades are about 285 g/t - over 125g/t is high
while copper needs .053 % to be commercially viable the same intersect have up to 6.48 % further drilling is currently underway to establish its overall size
I wont even go into the massive Lithium land holdings due to the positive initial results only being surface rock chip samples at this stage
Now because of the capital structure being deployed with Collaborators further dilution will be minimized not to say that it wont happen at all , meaning we wont have to raise as much money from brokers like Regal
but rather when we get to a early phase of a project instead of doing CR's to raise more money to develop the project any further , we are developing JV's with the big players who already have the big project readiness end experience to see it through the development phase ,
so unless WA1 has a capital preservation and mitigation strategy of similar behaviors CR's may chip away at value and you may find as the project develops the SOI increases at a much faster rate
At present the West Arunta is a very Risky play Mets are not in and fingers crossed its not another Lynas for both of us , that would be crap
and while we are in the West Arunta this was announcement from 1 drill hole and as certain geos have noted hole 34 from WA1 was a lot more than what the hits stated
best of luck to both of us if I'm right in my guesses we could be sleeping together sooner than later 1 infrastructure is cheaper than 2
(20min delay)