Fair comments.
There WAS plenty of (potential) cash to fund a shiteload of drilling when the bulk of the options were ITM, now not so.
With 3 rigs and expanding the camp the cash burn will be much greater than the last 2 quarters.
That said, IF holes in assay lab ATM and holes 38/40 at Target A come in with the goods then the options at current levels will look like a very smart buy. Watch the price and VOLUME action closely in the next month for clues.
For mine, I balance the market cap vs grade vs potential tonnes and adjust my view (and any further buy ins) accordingly.
IMO it is a legit Ni discovery but it's no Cosmos or Julimar etc.
Trivia - Carr Boyd mine was 3 breccia pipes totalling 220,000 tonnes at similar grades being hit now. Small.
DYOR
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