Reading the Half Year report apart from saying that completion of the Feasibility Study is high priority this half of the year with the Environmental Impact by Mid Year there is no mention on how they are going to Fund this over the next few months.
They then say they are planning for further exploration:
Planned Upcoming Exploration Activities: Planning is underway to commence significant Bowdens Silver Project extensional and regional exploration programs including: • Drill testing of high-grade silver extensions down plunge to the northwest of the Bowdens Silver Resource. • Geophysical surveys including IP surveys across the tenement package including at the Barabola, Athlone and Coomber Prospects; • Potential ground-based electromagnetic and gravity surveys over prospective areas; • Surface geochemical sampling on prospective target areas; and • Potential drill testing of regional target areas.
It seems Management is only focused on proving in-ground Value...It would appear their only strategy is to sure up the value to make it attractive to a significant Partner...I can not see them raising $150 million plus to go to production any other way. With the current balance sheet and even with a Feasibility Study in-hand very hard to see any of the banks funding this and any further capital raising at the current share price or below does not seem logical.
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