It was certainly a combination of some sellers taking funds out...

It was certainly a combination of some sellers taking funds out due to the off season expecting little or no upward momentum of the share price until possibly April next year. If the price was still mid 20c range personally I could not see it going higher off the MRE, PEA or other drill results which were outstanding as of end September. I for one expected the drop but just not as severe as below 10c. I certainly expected it to drop to low 20's or high teens.

As far as the T20 is concerned it seems pretty up to date. A friend who was position 13 on T20 sold out completely Post #: 70102907


, he has confirmed this to me directly as well so around 26th Sept he dumped about 3.2m shares. That would certainly have caused some capitulation, if he had of told me in advance he was selling I probably would have sold a bunch myself to buy back cheaper. I can't fault him TBH, he more than doubled his money, moved it elsewhere and made some more off his new purchases. He was holding for bigger news which didn't eventuate.

In my view we have hit the floor at 13.5c unless of course future news is not great but I will continue to add around 14c and grateful I got the chance to add over 300k between 9.5 and 10.5c and a few more up to 13c.

Looking forward to next year, not bothered DSO being 2026 but the SP could be $$ range by then if we get some good hits this coming season and the next. I wouldn't be still holding the amount I currently have waiting for the DSO if we do find the grades and intersections we are expecting.

Finally, I listened to an interview with Willem Middlekoop, our T1 holder. He was talking about other explorers he has held in the past raising funds through selling NSR. One he mentioned sold 1% royalty for over $100m, he also confirmed he was aware of a number of entities keen on supporting an Off-take with AW1. If we do raise for next season I would expect it to be small, $2m perhaps as Dave must expect $5m might role in from option conversion and hoping we should have about $4m in kitty by end next quarter. It does make sense to me Dave holding off some key announcements to raise in the New year at higher levels than we are currently. Also expecting next raise will once again be Canadian flow through shares at a premium.