So they have gone for the whole $10m to get to reserve status and BFS for Juno. Perhaps they could have raised half of it later at a higher placement price, after drilling delineated more high grade at Rising Sun and Nobles Nob.
But at least now we are funded to get this show on the road, which has got to be a plus, despite a probable pullback in the sp in the near term. And it may be the better path, if contractors are used for the mining, there may be no need for a JV down the road. Dilution had to happen one way or the other, this way we get to keep the project 100% and realize the full fruits of a remarkable gold asset at Tennant Creek.
DSE Price at posting:
0.9¢ Sentiment: LT Buy Disclosure: Held
