I doubt there are any outstanding drill results COGS. No drilling would have been done over the wet season and all results should have been long in by now. Also, don't think that a JORC is imminent, I believe more drilling is required, probably not much more, but still required.
They're keeping cash rolling over and kicking the proverbial 'can', with little issuances from the left over spp. Either they don't want to dilute or they're having trouble finding capital? Probably the latter one would 99% assume.
I do believe their conceptual target of around 1mil ounces at 2gpt. And once that is secured more ppl will be looking our way, unfortunately we need drilling to get there and that takes money and lots of holes in the ground...
Still a believer in this one, although I am very uncertain about the capital structure and sp short term.
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