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2.27%

4.5¢ culpeo minerals limited

Ann: High-Grade Copper Assay Results from Vista Montana, page-29

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glemon

3,635 Posts.

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30/05/24

07:02

Post #: 74073864
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Originally posted by Corgi: ↑

@WhiteRhino what they need is a solid $4-5mil of recapitalization to buy them about 1.5 years runway and about 1 year of exploration drilling (not resource definition drilling).

They do need to make a serious hit to confirm an economic discovery. Something that gives the market confidence of one. Something thick like 80m @ 1% Cu at a new target.

Problem is that most their raise goes to paying Max's salary & corporate expenses. They only do piece meal raises and always needed to raise every 2 qtrs. existing shareholders have already been diluted into the stratosphere.

At the end of Mar they had $1.3mil cash. Burning around $800K per qtr. So another CR will be required in Q3 after the AGM.

appears to be the same recurring theme. Dilute the SOI by 40% thru 2 cap raises each year.

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You will cop flack for mentioning CR by some who think it's all about getting to 60c on an oily rag from 1 or 2 announcements and a kilometre of drilling. I have suggested its about a 5 year plan, which means multiple fund raising and min $30 mill just to resemble a healthy explorer and with all that dilution still maintain SP sub 5cents by 2029.

CPO Price at posting: 3.8¢ Sentiment: None Disclosure: Not Held
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