121 Mining Presentation, page-4

they’l have at least some % from equity. 5% or 20% no one knows. Remember don’t need $70m US for all 4 stages right now. $50m was enough for stage 1 that currently has 17 yr LOM. Wouldn’t be surprised if 1st goal is simply getting 30-35m US & get the ball rolling to self fund later portions.

was good to see them worried about dilution. As he said 15% soi is top 2 holders + MQ & Jac around 50m soi.
lets see if over the next 2-3 months as they ramp up marketing if can get that top 20 holding from 38% to 45-50%. Barring prospecting rights for neighbouring area & blue sky with mt cecelia, main thing will be debt funding. Hopefully some ppl getting in at current sp are looking to that 2024-25 mark & not the next 30% swing to exit.