Yes the funds were raised to advance drilling at Jimperding, BUT GUESS WHAT, at that very time the world SHUTDOWN because of Covid, and you know what, the board have conserved cash very well since that time which is clearly evident!
The board are now clearly working to achieve success with drilling, sampling,and also ready to drill through the magntic plate at Newlyline, to quite possibly have the next CHN Julimar giant deposit !
They are also looking at top quality acquisitions, Delfin looked great but whilst doing DD, they clearly ran into issues with those involved so took the difficult but necessary steps to exit which they know for more than you, and said continuing would have greater risk for holders !
So onwards and upwards to the next acquisition, they are evaluating plenty ! That takes work !
So dint bother replying if you can't understand the above, cheers !
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- Ann: Termination of Delfin Project Terms Sheet
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Ann: Termination of Delfin Project Terms Sheet, page-70
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