A couple of things to highlight:
-It should be clear that we added 50.15% shares to our float.
We previously had 526m SOI and added 263m SOI so we now have a total of 790m SOI.
-AUD$17.6m is a lot more than we usually spend per annum.
As I've detailed here in the past, we've spent about AUD$25m under the new regime over the last 2.5 years... that's AUD$10.0m per annum.
So I guess the extra AUD$7.0m will be going to the 20,000m drilling campaign we're going to do.
We usually drill maybe 5,000m as an estimate, but now we're going for an extra 15,000m which will cost us AUD$7.0m.
I've previously posted some drill cost info:
https://www.rcdrilling.com/rc-drilling-guide/comparative-costs-of-drilling/#tab-1-5
They quote AUD$200 per meter of DD completed.
15,000m extra drilling at AUD$200 = AUD$3.0m.
-I see no indication in the announcements as to how many of these new issue shares will be listed onto the TSXV.
The Issue Of Securities notice suggests they will all be ASX AAM Ordinary shares, so I guess they will trade on the ASX unless owners move their holdings to TSXV after the issue is complete.
So why did we even get a TSXV listing?
-I still can't believe we walked away from the 600k oz 2.5 years ago and now we're pivoting back.
I have a lot to say on this, which I haven't yet, and I may never say at all.
-Completely unrelated to the above, but I love the movie Casino:
Best of luck punters.
Happy to be corrected if I've gotten something wrong.
As an FYI:
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