@PJL100 Not sure about your calcs there. If you exclude the costs of the listing they've spent just over $2m since listing towards the end of the last year.
That's included the costs of a significant drill campaign and met works on Graphite.
Plenty of cash to keep advancing things. Only scenario I see where they will do a capital raise in the immediate term (i.e. next 2 years) is if there are very positive things happening, with capital raise to really accelerate the projects. In which case you would expect the share price to be a lot higher.
As an example the Rare Earth prospects, if the met works are positive and show they can leach REE cost effectively from clay, then I would expect they will want to significantly ramp up drilling to better understand the quantum of the resource, and start planning for how they mine the resource.
The graphite if things keep moving in the right direction, then maybe they have off take partners to bank roll the development of the mine and the processing. They could get an investment from the off take partner, but could also raise some of the capital themselves.
Anyway a lot of these thing should be pretty clear over the balance of the year, but plenty of cash to get to get through this period.
Add to My Watchlist
What is My Watchlist?
