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46.5¢ carnaby resources limited

Ann: Completion of SPP, page-39

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Siva108

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13/10/20

11:12

Post #: 48050394
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Originally posted by Fyfee: ↑

Bobby,

”what if drilling comes up empty”

You ask an interesting question , and to me, it highlights the compelling price / risk equation of investing in our company at the current price.

So with $5 mill just raised, $6 mill for tailings, $20 mill for open cut sale or mine deal , ( approx figures for the sake of the discussion ) on these events alone, weve got $30 ish mill. So,if we by the time we have spent our first $10 mill on drilling Strelley, and Tick Hill (in search of the mysterious shear) and presume at that stage we have come up with absolutely zilcho, nothing, nada, then we would still be a seriously cashed up junior with a copper tenement.

So , in terms of risk, if that was to play out, if we had $18 mill in the bank, ($30 less $10, less $2 for ongoings) and the copper ground, then still, given that prospectively negative series of outcomes, i see a sp of maybe 20 c

Personally, i will take that risk.

Keen to hear others thoughts, as i am neither a miner, a geo, or an accountant. If anything , im just half good at simple maths.

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Disagree on 20c SP even if drilling doesnt turn up much. 30c is more fair. IMO they will find gold at either or both Strelley and Tick Hill. They also have a few other tenements...

CNB Price at posting: 38.5¢ Sentiment: Hold Disclosure: Held
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