Tolga's next play, page-74

Hi malaga,

Correct me if I'm wrong but I've got diluted assets of $3.8M (incl. Options Conversion), I'm assuming this is enough cash to fund project for a while.

------------------------------------------------------------------

Other than that; they have a killer gold asset, but I think the HPA will be the main play here.
ATC the other main HPA player on the ASX ripped through longterm resistance into the $50M+ MC range. Our asset seems bigger than theirs albeit they are more derisked.


However shouldnt count out gold asset either as a price pusher. 572,000 ounces at 3.4g/t is much better than alot most specs. And we are at $13M EV.
Golds on a rip too right now.
Could easily sell the asset for a couple Mill or JV it and bring our EV to the $10M level. Which is quite cheap for a co with this register, tolga, this space and potential size of HPA, Syrah boys.


Cheers