Looks like anytime this quarter for assay results.. Only the details of two cores have been provided so far, I’m eagerly awaiting the next few..
Regardless of my position on the phosphate//Peru action, and as others have pointed out, we don’t have enough cash in the kitty for further exploration activities, that’s a no brainer.. 1.2m ain’t going to cut it, especially if we are now chasing phosphate and Peru is back on the cards, well, so to speak..
So yeah we will need more capital soon, the “no immediate requirement” is exactly that, but we will need it.. The statements in todays announcements I find interesting and provides a few more pieces of the puzzle to put in place..
What punters haven’t realised (or maybe they have and haven’t really made a point about it) is the company hardly used any of the 10/15% approved capital issue from the previous agm (not the most recent one) when they could have at 12c, at 10c at 5c..
They only used the approved capital issue too pay there own salaries (until RB became GM) and contractors.. They haven’t gone cap in hand to sophs/instos looking for coin, like the majority of other micro caps do.. Even the last agm it was approved and they could’ve, it was approved, they didn’t and they still haven’t..
The rhetorical question is why? I have my own speculative theories..
So let’s see what the rest of the assays bring to the table, I think they are the most important pieces of the puzzle..
Im not sure about the earn in on the rest of the frewenas, I’d have to reread a few announcements but it doesn’t come specifically to mind..
The cutting/storing/logging of core samples ourselves I personally think wasn’t a cost cutting exercise per se..
(20min delay)