Actually a good first step here, it's small but its positive.
With the con note party participating in this equity raise you can see they have a similar perspective as I shared earlier.
They will need to get in on the equity side in order to help stabilise.
Another way of saying this "oops we need to do more here or we will lose our $10m".
That's what I mean by this being "positive".
A partial conversion to equity at a re-negotiated lower price will help both parties.
Goal should be to get to ~$4m debt (post partial conversion) and raise $10m on the back of the next round of technical data on exploration targets.
Use of funds on the next raise being to eliminate the debt and advance the program. If investors see that in one raise the debt is clean and company is funded to generate catalysts with solid geoscience driving the targets, they will fund it.
White dam needs a solution in the next 60 days.
That's the corporate stuff we need to see, at the moment it actually seems doable with a supportive gold price.
Technical focus on gradual advancement outside the existing deposits needs to be absolute, with regular updates on both actual and planned work.
No more time spent updating JORC, infilling or extending down plunge.
We want to put some holes in the 90% of tenement package that hasn't been drilled at all.
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