To double the resource would indeed cost a bucket, perhaps not...

To double the resource would indeed cost a bucket, perhaps not $50 million before any digging would start though. There is enough Indicated resource to give confidence that there is plenty to mine outside of the Measured envelope that operations would start whilst resource expansion is underway. The high grade first dirt would offset the resource expansion works.

To date of June 30th 2022 the company has spent $45.9 million on exploration and evaluation costs (from the figures in the annual reports):

	EM2	Jun-18	Jun-19	Jun-20	Jun-21	Jun-22	Total
1	exploration & evaluation costs	$886,765	$6,004,485	$2,717,101	$9,306,222	$26,984,843	$45,899,416

This has seen a lot of drilling that has yet to be included in an updated MRE, but does include a huge amount of known resource and various geophysical surveys. Would it take $50 million to double the resource? Probably more actually, however when the mining and processing begins, the copper and gold sales can fund the drilling, to a certain extent. We may only really need half that amount to have a presentable orebody that can have a Yes or No decision made for moving into production.

It's always nuanced, money comes from all over the place, including out of the ground if the confidence exists that the resource is there. In the meantime we may need to pull some cash out of our own backsides in the current market conditions. Maybe lay off the curries for a while....