Only 7 short posts since late June on DRE... I was reminded yesterday that no good deed goes unpunished, seems my absence hasn't been appreciated. Question for the thread,... does anybody know what price broker clients and directors are actually paying after deducting the Junior Minerals Exploration Incentive tax credits that comes with the CR, if it comes with this last CR? (so far as I can tell, companies do not have to disclose when JMEI tax credits are distributed with new share issues)... Buying wholesale in CRs and selling retail on market is usually lucrative, even more so now with tax credits thrown in.
If my maths is correct, DRE has issued ~7M shares to Top Drill @ 0.177c avg, and now 194M Cr shares @ 1.8c. Obviously further Top Drill shares will be issued at similar price depending on share performance over the journey. like I said before, respect for a great tactical play given it bought time to drill TY, partially test Mangie Carbs and potential rerate on discovery success. In the end it was still a discounted CR to retail buying on-market, who are down 20% from the average 2.2c price since 4th June when drilling announced as set to start at TY...
Last drill plan was for ~40 holes and ~4000m, ~100m/hole and mostly drilled shallow into oxidised and transitional ground. Should go quickly even with some moving, say 2 holes for 200m per day? Drilling started 22 July, so about maybe 15 days drilling by end of today and finished up by early next week... @salpetie might have a better guess with their sentinel interp?
GLTAH
DRE Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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