Ann: Shares coming out of escrow, page-181

Need more than high-grade rock chips to sustain a market cap over $25m especially in the current market climate.

Happy to listen to reasons why it should be valued at $25m to $40m if anyone has any, but if it was sitting at that level today then'd we'd have certainly crashed with the rest of the market and would also give overly high expectations of drill results being amazing and if they're not it would drop off.

Market cap is also sitting at $14.7m with 81.8m ord.shares.

For me right now it's at the perfect market value to start as a base for the upcoming drill program, if people bought on the hype at higher prices that's unfortunate but that's also the sharemarket but right not it's not over valued and bodes well for the upcoming drilling as expectations aren't ridiculously high with a $30-$50m market cap, so there's lots of room to move higher on positive results than there is for it to move down on poor results.

I expect it will move up as the drilling campaign gets closer to starting which happens with almost all mining stocks and then it's down to the drill results to do the work; either it'll be good and re-rate accordingly or they won't, no in between and that's the risk we take for the potential multi-bag returns.

Cashed up with $6m, low shares of 81.8m on issue, low market cap of $14.7m and drilling to come.

I'm looking forward to permits being granted, that will be the next catalyst to give the share price a boost to the 25c level ($20.4mMC) before drilling announced to boost things up to 30c ($24.5mMC) or even 40c ($32.7mMC) if overall markets bounce by then, as the market values knowing timelines and hopefully no delays. Sounds like everything is on track from the SUM social post today.