Assuming no exploration success and the use of all funds, by...

Assuming no exploration success and the use of all funds, by this time next year we will have gone through another CR.
We currently have 790m SOI and if we issue another 50% of that for a new raise, that will see us have a total of about 1,185m SOI.
1,185,000,000 SOI...... let that sink in.

So if we trade between $10m and $110m market cap, that means we're going to be in the price range of $0.0084 and $0.092.
As a result of this, I can see us doing some additional financial engineering to avoid us looking like a hyper inflated Zimbabwean currency.

Shell Game 1:
The current CR has seen a bunch of shares go to the TSXV to trade, which makes us look cheaper than what we really are.
Hot Copper excludes these TSXV issued shares when calculating the market cap, and I'd guess that less savvy investors will miss this point.
HC suggests we have a market cap of $21.5m and this includes about $20m of cash, giving us an EV of $1.5m.
Again, imo this CR was Sam's greatest achievement as it shows to me he's starting to "get it".
We're really valued at 790m SOI x $0.035 = $27.65m that includes $20m cash and an EV of $7.65m.


Shell Game 2 (hypothetical forecast):
I forecast that over the next year we will do a stock consolidation to try avoid some of these Zimbabwe style numbers of 1,185,000,000,000,000,000,000 SOI and share prices in the $0.0000001 range.
We'll probably end up dividing the float by 10 which would see us be around 118,500,000 SOI at a price of between $0.080 and $0.928.

If we do, don't let the new share price fool you, folks.
Because 118m SOI x $0.928 is the same as 1,180 x $0.092... that's right, they both equate to ~$110m market cap.
I believe this point has already been touch on in some of the AAM/MZZ videos out there on the tube, so watch this space folks.



As always this is just my humble guess/opinion and I'm happy to be corrected.
Enjoy your weekends and best of luck punters.