In simple terms I do not see how this stays below 15c by 2025. Assuming the tranche payments are made and excluding exploration costs, Indiana could have a bank of approximately $80-$90m. The significance, no shareholder dilution for any raises (unless I miss something). In addition the gold grades (recent and historical) suggest a decent system in ground. No doubt REE was the preferred play initially for them but with gold price surging it seems as though the market has missed what Minos holds.
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