20c in 2006 I think. It has twice run to +70c over the years....

20c in 2006 I think.
It has twice run to +70c over the years.
Only raised cash once or twice.
Self funded the whole time by acquiring and selling various mining assets.
Hence, only 95m shares on issue.

I think someone like Consolidated Minerals had the butcherbird deposit and dropped it around 2008.
E25 swooped.

It's a massive resource that overall throws out the low 11% grade.
Trying to do the whole project as a big play or a battery play required a big CAPEX of over $300 or $400m I'm guessing.
Was not going to work in this market.

So they have rejigged it into a DSO operation that will make an incredible amount of money if Mn price holds and the ore sorter works.

And just because the overall grade is 11% (that can be upgraded to 33%), I would not be surprised if it contains some high grade pods of metal.

All IMO, DYOR, above spiel is off the top of my head but I think it's accurate.