re: .......i'm in Looks a reasonable punt to me...
Eastern load being extended with good intersections.
New high-grade load discovery..with assay results still pending for 3 holes drilled below and adjacent to the previous intersection of 4m@26g/t. (The description of quartz veining and alteration in these additional holes suggests we should see similar results.)
Also deeper diamond drilling underway.
Clean register with approximately 110m shares on issue and only 28m options all up (23m listed).
Approximately $1.2m in the bank.
Current market cap about $16.5m on today's close (or $20m fully diluted)...so given what they may be sitting on, this may still be a little low.
Will be a low cost, high grade operation with easy access via the existing decline, exsting pit and existing infrustructure.
Importantly, these high grade loads will open up the possibility of commercially treating some of their low grade stuff as a blend.
Nearby treatment facilities available, either on a toll basis or possibly even via acquisition.
The shares are bound to be volatile for a bit, but I suspect once the dust settles, we may see much higher prices.
With an August 06 expiry date and 20c strike price, the options look like a pretty good bet for me!
I'm in for an average of 3.2c and will sit...unless it goes crazy, one way or the other.
Cheers!
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