Ironbark doesn't have to fund the pre-strip cost at Mulga Bill.
All it needs to do is provide the cashflow for ongoing exploration and operating costs and maybe even a dividend. $100m plus will allow them to do that as well as fast track the exploration. We are talking toll treatment to be clear.
By sorting out the current cashflow issues (and a potential dividend) the share price will re-rate to multiples of the current price. Then in years to come when time to develop Mulga Bill we could go to the market if need be, and dilution would be minimal due to the higher price.
We have 100,000 easily mined, high grade ounces at Mulga Bill with more to come. Not hard to do, why procrastinate, the sooner they start the planning process the sooner it will happen. As soon as the market knows we have a plan, the sooner the price will rerate.
Andrew says the depressed sentiment is typical of the exploration sector which is true to an extent for the masses or also-rans, but there are the unicorns that multi-bag because they have edge or do things smarter. Andrew has always said GBR is a unicorn, so maybe it's time to do what unicorns do and stand out from the crowd.
