Yes, well you only need 1 of the 3 projects to move towards production and this stock would very quickly rise to a market cap in the 100's of millions IMO. So, it is a no brainer he is putting big money in because the upside is massive. The Monument Gold Project is the most likely to be a mine right now in today's gold market, with the profits on offer. Management seems to be prioritising this project which is great to see! $776M Aud in ground gold value proven so far and that is only going to rise with current drilling IMO. It is a wise decision.
However, Brazil and Botswana could easily move towards a similar development path with further exploration. For example. SGQ is another stock I hold with a quality Brazilian REE asset which has significant stakeholder/government investment, offtakes etc. recently. It is a hot region, especially with all the supply issues the world is now dealing with.
The main issue I see is a lack of funds to seriously escalate and speed up drilling and development. We need around $20M to get 2 projects to a Final Investment decision and construction stage IMO. Therefore, I believe management need to sell either Botswana or Brazil to ensure the other 2 get going ASAP. Or the other option is that the share price runs hot from here 10c plus and we do a large raise with sophisticated and institutional investors and hopefully retail are even given another sniff.
The last thing we need is anymore raises at these low market cap levels. I am confident that it is only upwards from here IMO.
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