they actually quite advanced with the drilling. drilling for...

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unname101

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19/09/24

06:36

Post #: 75736666
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Originally posted by 1%aday: ↑

The MC is still approximately $4m.

why are people so worried about a CR?

Firstly, If they do, it will only be 15% dilution. I doubt they will aim for more than 15%, this way there's No need for shareholder's approval.

secondly, they have over a million dollars in the bank. They can go for RC or even air core drilling. They don't need much cash. $600k is more than enough

Thirdly, who says they will do a CR at a big discount. They might even get it at a premium. Some people will be chasing hard if that happens.
Anyways, if they don't raise tomorrow, it would be safe to say they've decided not to raise before further drilling takes place

fourthly, the historic assays are drill assays not just soil sampling. This is an advanced explorer. This could be considered a follow up drilling campaign.

Check these assays. 10km antimony corridor. What more do you want? Of course day traders will winge about any drop in price because they are short sighted degenerate gamblers.
I still can't find a better $4m MC antimony junior explorer that offers so much value atm.

YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
YRC27: 6m @ 1.35% Sb from 13m

The high-grade antimony mineralisation at Discovery is open in several directions with prior drilling only focussing on the shallow oxide material.

Previous soil and rock chip programs identified a 10km north-south striking mineralised antimony corridor, including quartz vein sample, YA123, which assayed 60.1% antimony
There were an additional 3 antimony prospects identified, Central, North and No.4 where there has been no drilling and remain high priority targets

good luck beautiful people.

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they actually quite advanced with the drilling. drilling for confirmation and extension will lift it to 20mil for start. Just saying about CR given recent action in other juniors. this looks different, i guess market is changing right now.

OCT Price at posting: 9.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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