Not entirely true. Vendors are paid 360m shares on decision to move to PFS. They are escrowed until MC hits $100m. They will still form part of the SOI.
Don't disagree with using 1.8bn for now and calling it $7m cash. So essentially at 3c MC was $54m and EV was $47m on only 8 drills. Market got ahead of itself.
Doesn't mean incremental value can't/won't be added here moving forward. Threads just need some balance without the emotion being thrown around in here the last day or two
Ann: Release of Securities from Voluntary Escrow, page-198
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