@Grubble - It would seem that the $6m injected by the board, was...

@Grubble - It would seem that the $6m injected by the board, was in fact already included in the cash position.



That being said, the board clearly believe they are basically cash flow neutral (or even cash flow positive) at this stage.
That is not surprising considering all the pre-production that was completed before first gold pour (as explained in the presentation).



I still don't think anyone can rule out another raising though, albeit, I think it would be small and targeted, and likely not damage the share price at all. Perhaps part of it could be to fastrack the new acquisition infill drilling etc.

Looking forward to seeing what the regional exploration around Bibra turns up, once it gets really going.

Found this bit very interesting regarding the purchase.



I like that it explains why there were able to get it at such a price, plus, reduce any concerns that could have been raised if not explained.

I like that the cut off grade is 0.4g/t, might not mean much to some, but many are using cuttoffs as low as 0.3g/t for open pits.


Finally, just in case anyone does not feel the new acquisition is not a great purchase, we only have to look at the ounces per metre, to realise the project is going to be profitable....




This is Karlawinda ounces per metre (from 2020).



The projects really do have some very strong similarities.
Good luck to all holders.