Immense dilution to acquire a world class project. The objective...

Immense dilution to acquire a world class project. The objective is to have an MRE by 2025, the intercepts are shallow and it should be interesting to see whether a JORC compliant resource with further drillings proves to be economical regarding the metallurgical test works. How credible this acquisition is will only be determined by the drilling campaign which will ensue upon acquisition of the project. The project financing should have come in form of debt rather than equity placements as that would have helped with understanding the merits of this acquisition without such a massive dilution.

- A total of 3 billion plus fully diluted shares even after a JORC compliant MRE along with further metallurgical works will only be able to take this to a relative valuation.