Small instos will be looking now as cashflow starts to ramp up. Unfortunately, they will be looking for a cap raise as an easy entry point. Unfortunately, they are going to be disappointed, given little debt and low capex. So, if they want it, they are going to have to buy on market.
As for the dividend. Difficult to tell but it is on their medium to long term agenda. They will be upping the drilling program to bring the rest of the deposit into the NPV. Remembering very little of the underground is in the current $300m NPV. That should get the NPV to $600m to $900m. They are doubling the processing plant in 2025 and they have Wolfram Camp which will require some exploration.
In say that, they do want to be seen as a long term mining company that provides investors with a return on investment via dividend and capital growth.
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