I have been a disgruntled then very pleased HDY/PSL holder for a for a few years. I firstly want to congratulate and thank the BOD and the Skype group and all that were involved in our relisting. (I put my bit towards that). I don’t know a great deal about gold mining in general but a little bit of research goes a long way and I believe we have some of the best speculative ground available for a potential world class discovery in the speculative market. I personally hope the cap raise is an investment from a company Such as DGO or LRT. Who invest early in companies with a lot of potential. This would bring more attention to psl potential. I think the max cap raise per year for an asx company to an investor ( not shareholders) is 15% although I believe this 15% cap was raised during the covid breakout. I am only speculating but at approximately a 15.4 m market cap a company could pop in $2 million which we would hope would be at $0.004 but could be $0.0035 . Approximately $1.7 million if our market cap was based on $0.003 at 15%. I am hoping with the extra funds it will allow us to complete drilling and ip surveys at the existing shear zones at grace/bemms and upgrade the resource at Burraga with some drilling at hackneys. I’m really hoping the cash is for IP over the (whale) prospect in the SE corner of the grace prospect followed by diamond drill campaign that may put PSL on the map. I think PSL is currently a must have in any speculative gold portfolio at such a low market cap with massive potential.For those who are wondering why cap raise when we should have money in the bank. Drilling is expensive and the more we do the quicker we can take advantage of the high gold price and the quicker we can produce shareholder value. My comments are a combination of speculation, hope, guesswork, gambling and some research. DYOR
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0.020 | 1683334 | 2 |
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