Even if they find something today worthwhile, they'll still need a cap raise just to fund the setup costs for mining the site wont they? 4mil wont go far in that space and yes if a significant find is found the subsequent cap raise would be easily enough done I imagine - if done soon for that purpose.
Without a significant find soon, how many more cap raises are realistically possible to keep funding exploration and/or management wages?
Not trying to down ramp and I understand these junior drilling operations are often like educated lotto tickets, hence the transient holder base - but just trying to put a practical timeline to how much "patience" can be granted or even realistically afforded at these prices/market cap to gauge a risk/reward scenario or life expectancy of the company in the absence of a viable find?
Not particularly well versed in mining exploration stocks, but that just seems like the biggest rational risk to me right now.. happy to have someone more familiar with a company of this MC size in exploration let me know their options from here to keep the exploration going in the absence of a significant find.
GBR Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
