Would you prefer, endless capital raisings and share dilution, on each project. Hmm $3 mill spent last quarter, how many shares would have that added? Lets go back 2 years , we had a Capital raise at 2.1 c We still have the $$ in the bank .
How much spent on drilling in last 2 years ?? How many shares would that have added. What about the cost of drilling this year on 10 plus projects, how many shares would that add.
The stuff is either in the ground or it isnt... whether we have S32 or not wont change that.
Yu also forget the 15% admin fee on EVERY dollar spend drilling , and the BONUS dollars when we hit certain objectves. Take those $$ out and we would be broke...
So for me S32 is no hindrance, its a VERY strategic, minimise risk move.
Ann: Quarterly Activities and Cashflow Report, page-8
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