Some of the fascinating facts:
Besra has already identified JORC (2012) Resources across a number of discrete deposits of
Measured3.4 Mt @ 1.5g/t Au for 166.9koz,indicated 16.4 Mt @ 1.57g/t Au for 824.8 koz and
Inferred 47.9 Mt @ 1.29 g/t Au for 1,989 koz. In addition, the Project has a global Exploration Target ranging between 4.9 Moz and 9.3 Moz3,4 (on a 100% basis). The region is well serviced by infrastructure including ready access to deep water ports, international airport, grid power, communications and a multitude of service providers.
It has already executed a US$300 (AU$450) funding facility of which we have already received $15 million dollars and the rest will be coming through in due course as needed. When the first announcement came through about the deal, many people did not believe it and no surprise there are still some that still do not believe it. They have the right to their own opinion. For me, I trust the company and the ASX announcements only. If we do not receive another sum of money within a next few days, it won't matter to me as I believe things can take time when we are talking about multi million dollar payments.
As the days go by, we are getting closer and closer to the commencement of the pilot plant. A lot of activities have been happening in that regard based on the quarterly announcement.
We have such a highly advanced project and the funding to make it happen. The funding is one of its kind, I personally have never seen such a great funding facility (no dilution, no debt etc.) in any other ASX company. I do not believe that Quantum were handing out $US 15 million dollar for fun only. They must have gone through rigorous due diligence before committing up to $US 300 million.
Thanks to someone selling a large amount of shares in the last few months, I was able to top of what I could. Like they say, with fear comes opportunity so I am very happy that I was able to buy the shares at ridiculously cheap prices. It is amazing how this is going under the radar of big punters (may be because it is not lithium?
but I guess it won't be long before this explodes again surpassing the ATH and beyond.
Slowly and steady does it, we are getting there.
My opinion only, please DYOR.
