The core
the company had $400k left when they started this drill program targeting a low grade starter pit 18 days ago, (assays would still be 3-4 weeks away). So raising money before the ASX send out a please explain your low cash status is a smart thing to do. (Try raising after an announcement like that!). This program may not shoot the lights out but it’s what’s needed to develop a scoping study with a view to starting production so raising money now before they run out of cash was well timed and necessary and it’s certainly significantly higher than their last CR price.Peter Mitchell has a sound plan to go forward and is doing what he needs to do, remember it’s a brown field project and the easy gold has been taken and the previous owners failed in their bid to get this going so what PM is doing is very carefully thought out, so give the guy his dues.
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