I really like Mike. Smart, experienced and successful. Certainly not the 'salesman type MD'. Further increasing resource and coming up with DFS, FID including mine design should mean 2023 is a big year
Clearly the major issue appears to be this. With a tiny mkt cap (circa 60m) there is no way equity could contribute 30-35% of the 300m AUD capital cost in a year or 2. Assuming we need say AUD 100m equity (and AUD 200m debt) ideally we would have a market cap closer to 200m which even then makes it a very dilutive share raising (1 for 2 rights issue type scenario). And 200m market cap is a 3.5x bagger from here....
Otherwise like many other juniors it could be bring in a larger JV partner or sell the project
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Ann: $8 Million Placement to further expand the Antler Project, page-49
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Open | High | Low | Value | Volume |
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13 | 3275777 | 0.018 |
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11 | 1532500 | 0.016 |
8 | 2073698 | 0.015 |
Price($) | Vol. | No. |
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0.022 | 1586403 | 5 |
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