Yeah, and the terms of the drill for equity are quite favourable.
From memory, equity value at 6 day VWAP? (I need to double check the exact dates here) From invoice date. As results come out and programs progress we get a better rate if results are favourable, and this can be significant. Much better than doing a total raise at say 1.7c for example.
In addition, the equity is in escrow for 6 months keeping them locked up.
Ann: Drilling Extended for Nb-REE and Cu-Au Targets, page-9
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