while I think the placement should have occurred after the project received funding go ahead, I’m not privy to the discussions nor in the hot seat, ensuring cash flow for the foreseeable future. The directors have built the resource, and continue to seek to expand it in scope, now with extra drilling at Evelyn and the concept of a Whim Creek hub. It may be that the negotiations required them to have a stronger cash position.
The project is growing in value, and now we are back to where we were at 2.6c when the run started, the market has delivered its opinion soundly. The Project NPV still dwarfs the mkt cap, albeit the wall of 6c options will act firstly as a barrier (unless they expire waiting), and then further dilution once things truly get moving.
ANX Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
