Good points.. but fast paced program may also mean depending where it’s prioritised on the schedule of projects.. exploration is an expensive exercise and ensuring the dollars are going to the highest prospective tenements is the strategy in place I believe.. in this case the focus right now is on riqueza and frewenas..
Take your pick of projects in scope:
Peru - Riqueza, Cerro Rayas
NT - Frewenas, Lorna May, Jean Elson, Hay River
QLD - MacCauley Creek
Thats a lot of ground to explore.. so yeah being frugal and ensuring the best use of shareholder funds is crucial, it’s a balancing act.. Especially when as a company over the years, you’ve been through a number of consolidations and bloated registers..
So do you spend all the capital on going hell for leather drilling everything in sight? Or do you take the time to ensure you’ve got the plan right, the most lucrative targets analysed and then spend the capital pulling cores out of the ground?
How often do you want to go cap in hand to shareholders? Joint ventures or grant funding are great for big exploration expenditure, but you whittle away at percentage of ownership.. Capital raises to further big exploration then adds to capital structure bloat and shareholder dilution.. hence the balancing act, you’re not going to please all shareholders either way, but that’s the cost of doing business right?
Don’t forget the options have been structured in a way to help alleviate some of the funding pressures over time, but thats if they are all converted, we are a little behind on where we planned to be right now, however my spidey senses tell me leading up to June/July, wee will see a flurry of 2As being announced on the OBs..
Hope this helps in your research somewhat
ICG Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
