I highly doubt they are drilling. They would have announced that...

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chriseels

142 Posts.

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03/05/23

15:39

Post #: 67588733
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Originally posted by Bogart88: ↑

There are some broad asumptions being made, so I will have a go at making some of my own,

1. They don't make announcements frequently,
2. There cash position is about to improve because tranche 2 of the funding will come through,
3. They probably have the drill rig on site and are drilling but don't believe in "fluffy" updates.
4. There is also the possibillity that they are advancing things at Gold Links and don't feel compelled to advise the market on each litle bit of progress.

Regarding the REE's, I thought they said in the last raise that the focus will be on expanding the gold resource then focus on the REE's

Like most investors, I have observed other companies and their REE prospects and seen the run up in share price but in most cases the REE plays tend to get to a point then go sideways, IMO this happens because there are not a lot of natural buyers for REE projects whuch means that the current owners will need to finds hundreds of millions or a billion plus to build a cooncetration plant and after that plant has been built, guess what, selling concentrate puts you at the low end of the value chain as their are only three natural buyers for your product, Lyna, MP and the Chinese.

If a gold deposit can be grown then there are a lot of natural buyers and no need to raise vast sums to get there, the REE's have been there for over 1.4 billion years, whats another few months, they will still be there.

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I highly doubt they are drilling. They would have announced that to the market they have said in multiple quarterlies lately that they are going to commence drilling but it does not happen. hopefully things are turning around with the gold links joint venture but they really need to drill the RE and colesseum.

DTR Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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