Yes, given all the market's (wider and generally unrelated) conniptions, raising $1M is a great result, in my view.
And the degree of management support in the raise speaks volumes of its confidence in the value proposition within Quicksilver.
So we have about $1.6M in the can, and I'd assume the prospect of further shortfall placement at the Company's discretion in coming months.
Plenty to get the Stage 3 Met testwork done, and more.
But I'd much rather a laser-like focus on Quicksilver, Bluey.
I think shareholders still don't fully grasp the potential within our flagship project, or quite how far along it has progressed.
In last week's Presentation, our CEO emphasised the transformational nature of the Stage 2 Met testwork in unlocking and advancing Quicksilver.
Put simply, the study demonstrated an uncomplicated, mechanical, low-energy flowsheet for producing a basket of saleable products from a large deposit which already had the evident virtue of being low strip, free dig.
Sensational!
The Stage 3 Met is about closer interrogation of the mineralisation, refining the methodology, and improving recoveries and grades. Small tweaks and refinements can make huge differences to potential profitability.
And that's before going anywhere near the deposit's evident REE and Scandium endowments, and likely additional credits!
Folks should realise that the initial discovery and definition of the deposit saw the Company's market cap run to above $65M!
Yet shareholders seem to have been so distracted by a series of comparatively transient spec rushes that when the Stage 2 Met began demonstrating a viable pathway to commercialisation of the deposit, no-one seemed to notice.
To the extent that our MC is where it is today. Unbelievable! ...with opportunity knocking, in my view, like a battering ram.
G88 Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
