PennyFarmers dont own the minerals. The state owns the minerals....

Penny
Farmers dont own the minerals. The state owns the minerals.

Grass Patch is not fully farm land.

OD6 has already drilled areas of Grass Patch. I would hope the deposits of other minerals are not on farm land but if it was the company only has to come to an agreement with the farmer/s to compensate them for any loss or damage to the farm operations. This could be cost or replacement but could also be a royalty.

Don’t worry. If there’s viable minerals in Grass patch things will be worked out.

As for fund raising, I believe it was deliberate that fundraising was minimised so as to minimise dilution until the MRE was updated or a strong partner is introduced into the venture.

$3.5 million in the bank will pay for the necessary metallurgy science being undertaken and a drilling program for the potential other minerals identified in Grass Patch.

I bet the MRE is days away. Next week maybe and a corner stone partner will follow shortly after.

Hopefully the next fundraiser will be around $1.00.

Don’t throw in the towel just yet. GLAH