I have similar thoughts in regard to the amount that the SP can...

I have similar thoughts in regard to the amount that the SP can drop, and I also have confidence that Ed and the team will continue their prudent and frugal approach to exploring the Earaheedy tenement…

It will be interesting to see and hear what the forward-looking strategy will be taking results and financial conditions into account.

FBM share price has taken a considerable hit and I don’t see it recovering in the near term, I am also sceptical that FBM will be finalising drilling north of Big Red to be able to announce a 10mt mineral resource within the next few months… meaning that the 27.5m performance rights are still out of reach in the near term.

Just off the back of my envelope (and probably not comprehensive) I have the following thoughts.

Cash from FBM for KH in Q4-2023 -> $125k

Cash from FBM for KH in Q1-2024 -> $125k

Ca 9.15m locked FBM shares can be sold in Q1-2024

Ca 9.15m locked FBM shares can be sold in Q3-2024

I still don’t understand how the Vango payment announced in Q4 is…

27.5m FBM performance rights may be on the table sometime in the future…

Of course FBM SP is not great at the moment, and potentially ED and the team will be stalling the next costly exploration phase for this reason… at least I wouldn’t be upset if this was the case….

Alternatively, a CR though Shares and Options would be exceptionally costly and I’m really hoping they don’t go down that path right now….

So summarising, I still believe that Earaheedy is a region with potential and that Ed and the team is taking a solid methodical approach trying not to burn too much money while exploring quite a large tenement.. They have a few funding options where we will have more details when the quarterly is released, but it’s not as bad as some of the posts here suggest.

I’ll been writing that this project will take time, so I’m going to be sticking around and be enjoying boris’s daily feed and hoping to soon hear Ed and the teams strategy for 2024.