Ann: Renounceable Entitlement Issue to Raise up to $3.25 Million, page-38

my guess for the mre was basically what the exploration target turned out to be mate. i was disappointed like everyone else, and spoke to the company and got a good explanation why the mre was underwhelming. I posted at the time. In summary, to satisfy the consultants that the deeper ounces should be included, more drilling was required, they decided money was better spent elsewhere.
The idea is to attract multiple suitors so we aren't at the mercy of nst, you can assume the company has decided that the best way to do this is to hit those good targets, aircore drill them for cheap, prove up ounces. If you do the maths on just those 175k ounces as a takeover target you are already talking more than the market cap. If the company can streamline the discovery of more easy ounces in the multiple corridors then maybe some majors will start having a closer look.
For me, I'm thinking about which way gold is headed, and if they can build the ounces convincingly in the other corridors. pretty confident yes. The rest is noise, albeit shitty cap raise noise that id rather not hear at all.