To everyone linking the CR to the acquisitions; you'd think that the CR has nothing to do with the purchase cost of the grounds (which are $100k + $200k cash).
It might have a bit to do with drilling them (more so McCarthy/yesterday's acquisition) as it's on a mining lease, so any ounces from there can be added to production with the Star & Friends.
Also, they probably could have (and did originally plan to) scraped through until production with the current cash, but have decided raise more and go hard, instead of "scraping through".
Just remember, when production starts, and it's not far away, every ounce of gold is worth $4,800.
2,000 ounces get $9.6M revenue.
20,000 ounces get $96M revenue.
100,000 ounces get...
As in whatever they're raising (and raised recently), will be insignificant compared to what they'll get in return, in additional ounces of gold production (on top of the initial 20,000 ounces).
Anyway, bring on this CR, bring on the drilling, bring on the additional ounces, bring on the gold production, and bring on new discoveries.
Cheers,
GB.
DRE Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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