For DRE, it's what they need right now - some cash straight up, and if CTN give it a go then more cash for DRE down the track, plus the upside of CTN shares.
I was guesstimating that we'd get something like this, but I was hoping that the cash component might have been $500k, but I was assuming that would include Illaara.
So, $250k (plus CTN shares, plus more future potential cash, plus no project/holding costs) for Central Yilgarn excluding Illaara is decent.
Hopefully they're negotiating a sale/JV for Illaara too and get news from there soonish, and keep the bank balance ticking along.
And hopefully can get something to Bresnahan too.
And we'll see what they do with the Kimberley too.
These will all/mostly be to keep us going to Mangaroon gold mining, and from then on, it's happy days.
Cheers,
GB.
ps. Directors invested $6.8M of their own cash into DRE, which is likely more than all of everyone's other companies put together! cc: Matt
DRE Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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