Seriously guys look at the grades of copper and gold ! Ordinary grades, nothing special ! Then on top of this is the company raised $2.75milion dollars last quarter bring the total shares up to over 1.133 Billion shares on issue yet the company says they only have remaining cash available for under 2 quarters and that was their last Quarterly report dated 31st December 2021, which included the $2.75million raised, !
So in effect, they only have cash left for another quarter at best given the cost of this latest drilling campaign ! So another raising coming which is why this is dropping now given todays grades imho !
This is the penny stock sector and it's a hard grind ! All in all it has held up well given todays results and the very ordinary fundamentals i mentioned above !
Look at the table from the latest quarterly below showing cash all in from recent cap raise, there are big outflows of cash there hence cash will be near gone in the coming quarterly report coming end this month March !
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