To be honest, as someone who is now out (unfortunately - see post above), I'm not going to chase this. $4.8m that wants in at an instant 4-5 bagger does not necessarily buy in at a ~$50-60m valuation fully diluted. I think some level of immediate drill bit success is priced in here, and if it doesn't land immediately there could be a pullback to 0.3/0.4c. Not that I think that is likely, but it's definitely a risk when people have filled their boots at 0.1c.
If I'd manage to get the shares, I'd be holding through the first 12 months of drilling and hoping for something life-changing, but seeing as I didn't, will see if it comes back.
Ann: Issue of Shares, page-7
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