I'm probably wrong, but the recent capital raise was pittence,...

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Stoneskull

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08/04/24

17:15

Post #: 73244274
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Originally posted by InItEarly: ↑

I think Chris Evan's would not have signed up as a director unless he believed there was merit in some of the projects.

That first drilling campaign at Uis was utter trash and wasted a good chance to find something there.

I do not know what Gino's game is, but he has not wanted to raise the money that the company frankly needs to have another red hot go at it.

Unless you start drilling, you've never going to get a rerate because you can't prove you have something. So it's stupid and self-defeating to delay. And in doing so, our cash has dwindled away to nothing.

That led to this horrible raise, when blind Freddie could see we needed to raise in the third quarter last year.

Gino was told that then, but chose to ignored it.

So I have confidence that we have some good land and that a competent MD could make something of it.

Therein lies the problem.

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I'm probably wrong, but the recent capital raise was pittence, probably enough to get the diamond rig locked in.
Seems to me his pretty confident on these trenching results to boost the SP significantly. Then they can capital raise on the back of that before the diamond drilling results are due, in the event that the diamond rig results fail, we're already funded for other campaigns etc.

AS2 Price at posting: 5.0¢ Sentiment: Hold Disclosure: Held
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I'm probably wrong, but the recent capital raise was pittence,...

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