They did have enough cash to drill 3 holes after the last CR,...

They did have enough cash to drill 3 holes after the last CR, and as at 30/6/20 they had $1.7M cash and I think this excluded the funds from the options exercise (around $1M), but then they went and acquired more licences for acreage, which was also around $1m. The new acreage sounds more promising than the existing acreages, just watch the interview with MD Joanne, she basically said this and couldn't contain her excitement. Quarterly cashflow report is due at the end of the month, so this will shed more light on the situation.

If they strike commercial Helium they will lease the plant, so minimum capital required here.

I see 2 announcements coming that will drive the share price up - granting of permit, then drilling.

The third price driver will be the drill result, a good result will see the share price fly (25 cents + probable because of the blue sky of more holes to come), a dry hole will likely see some pullback but with more holes to follow there is something there to support the price.

I dont see any announcements coming that will drive the price down, and dont believe a CR will happen in the foreseeable future. I also believe the share price will set new highs before drill results are released.

Dont forget it is 100% certain that the Helium is there, that is fact, it is seeping out of the ground, we need to hope the dome is intact keeping the reserve of Helium in the ground at a commercial grade %.

There is risk, so dont be stupid with how much you invest, but I feel this is a lot less risk than most drilling programs, a lot of preliminary effort has gone into this with ground sampling and securing leases based on this, as well as historical information and of course geology. The Management are tight with $, they have done a great job acquiring leases and have been the first mover in this respect. They are now rewarding themselves with what I feel are generous share options, but if they succeed who cares, and they have probably "under rewarded " themselves to date for what they have achieved.

Just my thoughts, DYOR