The stock has now broken out from its bottom. I would expect 0.15, 0.20, 0.27 & 0.34 break points leading in the coming months with favourable announcements.
Historically, SPP have returned approx $3m-$4m on a level SP by LT holder participation. If the share price exceeds the offer level & say reaches +0.03 above the SPP price point, the uptake will be much better >$5m.
A favourable SPP could easily fund additional capital works for Warrior such as a much needed underground ore-sorter (per the original development production plan) which would enable them to backfill & mine between the 15m stopes, thereby increasing production efficiency & reduced haulage costs to the surface.
IF Warrior were to reach a production rate of 10,000oz per quarter, this would go a long way to regain market confidence in the company. I would expect that their upcoming quarterly result will be marginally better than December results between 6,500oz-7,500oz for March quarter with a view to reaching 10,000oz per quarter by FYE.
IMO.
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