they don't have $3m cash, they "had" $3m cash
as at 31/03 they had 1.98 quarters left
take out June they've got 0.98 quarters (mind you that's without the CEO pay which has been added since)
even if the price temporarily gets past 1.5, it'll need to be 2.5 before the oppies get exercised, no retail will do that for a few pips..
even with drill results on remaining holes, we aren't talking about a big strike, it's narrow and not open in all directions.
I'd be using caution..
Ann: Company Presentation, page-26
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