Gold income is nice and pays office running costs/directors salaries etc. It might even stretch to a few drill-holes on the Lithium prospect.
It doesn't however even come close to funding the feasibility studies on Barrambie necessary to get it to the financing stage/commencing construction. They have $9m in the bank now which will take them about 10-20% of the way there.
It would be nice to give some details of when and how they will be seeking money in the near future.
IMO this will be soon and I would think on the back of the Lithium Ann. They'll wait until the SP looks good and then either announce a rights issue or raising to sophisticated investors.
Might be worth waiting for - both picking up SPP shares and them hoovering up more in the inevitable post-SPP dump.
NMT Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
