They have cash on board, circa $1.2M, enough for the drilling and sampling campaign.
Small cash injection from I/O sale, potential for income stream.
They have the investor roadshow on at the end of May.
Drilling is imminent.
They also undertook the share purchase plan (unmarketable parcels) for 0.0065. this was only a few weeks after the IP Survey started. Think about that. Results were issued 2 days after it closed. Two (2) weeks later they traded at 1c. Not bad for the new investors...
Whilst these unmarketable parcels were sold to a select investor(s), the way they have gone about the business of introducing new cornerstone investor(s), without dilution is savvy (timing IMO was a bit suss).
Look at the timing of ANN's in general:
Extend soil anomaly just days prior to annual report,
Appointment of Steve Parsons just days prior to investor roadshow
Conquista Options just days before quarterly
It's all very strategic and predictable.
Add in the New Exec to the Board - puzzle pieces are starting to fall into place in the background. I get the feeling they are setting up for solid progress.
If they do CR, it would be - in theory, after any positive results and the investor roadshow (if indeed they need it at all) there are other options hanging out there for income stream(s).
This current vol (while small, but improved relative to recent vol) tells me the players have woken up and it's time to take position. I expect more funny buggers over the next few days..
Looking forward to see what occurs at depth, we'll find out soon enough...
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